Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

Crisis management and resolution - Resolution of licensed deposit takers and associated persons

283: Application of resolution provisions to other persons in resolution

You could also call this:

"What the resolution rules mean for other people involved"

Illustration for Deposit Takers Act 2023

When you read about rules for licensed deposit takers in certain parts of the law, like subparts 5, 6, 7, and 8, you must also think about other people in resolution. You need to understand what another person in resolution means. It refers to certain people or groups who are in resolution, such as a subsidiary of a licensed deposit taker or a body corporate formed under section 314 or 320.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS535173.

This page was last updated on — View changes

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
Previous

282: End of resolution, or

"When a deposit taker's resolution comes to an end"

Next

284: Moratorium, or

"Protection for deposit takers in trouble"

Part 7Crisis management and resolution
Resolution of licensed deposit takers and associated persons

283Application of resolution provisions to other persons in resolution

  1. References in subparts 5, 6, 7, and 8 to a licensed deposit taker (or similar references) must be read as including references to another person in resolution (unless the context otherwise requires).

  2. In this section, another person in resolution means any of the following persons if the person is in resolution:

  3. a subsidiary or any other associated person of a licensed deposit taker:
    1. a body corporate formed and registered under section 314 or 320.

      Compare