Deposit Takers Act 2023

Crisis management and resolution - Conduct of resolution - Bank may dispose of business undertaking or property, rights, or liabilities

328: Proof of transactions

You could also call this:

"Proving transactions are real when a business is sold or closed"

Illustration for Deposit Takers Act 2023

You need to prove that a transaction is real when a licensed deposit taker is getting rid of its business or property. If someone shows a document to a registrar that says a licensed deposit taker's property is being transferred, it is enough proof that the transfer is happening under certain rules, such as section 319 or 320, unless someone can show that it is not true. A registrar is a person who keeps a record of things, like the Registrar-General of Land. You can also use a certificate to prove that a debt has been paid. If a resolution manager gives a registrar a certificate that says a debt has been paid, it is enough proof that the debt has been paid, unless someone can show that it is not true. This certificate can be used for a licensed deposit taker or a company that was formed under section 320(1)‎(a). A registrar can be different people, such as the Registrar-General of Land or a Registrar of Deeds. They are in charge of keeping records of things. You can use these records to prove that something is true.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS534970.

This page was last updated on 9 February 2026 — View changes

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rules

327: Kind of security interest referred to in various sections, or

"What kind of security interest is being talked about when a bank deals with a business"

329: Provisions applying where liabilities included in sale, or

"What happens when a debt is sold to someone else"

Part 7Crisis management and resolution
Conduct of resolution: Bank may dispose of business undertaking or property, rights, or liabilities

328Proof of transactions

Subsection (2) applies if—
a person presents to a registrar an instrument transferring or otherwise disposing of any property of a licensed deposit taker or any shares in, or property of, a body corporate formed and registered under section 320(1)(a); and
the instrument—
1. is executed, or purports to be executed, by or on behalf of the licensed deposit taker or body corporate; and
2. contains a statement that the transfer or other disposition of the property of the deposit taker, or the shares in, or property of, the body corporate, is made under section 319 or 320.

The instrument is, in the absence of evidence to the contrary, sufficient proof that the transfer or other disposition is made under section 319 or 320.
If the resolution manager presents to a registrar a certificate signed by or on behalf of the resolution manager that states that the amount secured by a security interest over any property of a licensed deposit taker or a body corporate formed and registered under section 320(1)(a) has been paid, the certificate is, in the absence of evidence to the contrary, sufficient proof that the amount secured by the security interest has been repaid.
In this section, registrar means the Registrar-General of Land, a Registrar of Deeds, or any other person required under any legislation to keep any register.

Compare

1989 No 157 s 135