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Deposit Takers Act 2023

Crisis management and resolution - Conduct of resolution - Regulations may confer additional powers

333: Bank’s or resolution manager’s powers under regulations

You could also call this:

"Rules that give banks extra powers to help them work properly"

Illustration for Deposit Takers Act 2023

The Governor-General can make rules to give the Bank or the resolution manager more powers. You need to know that these rules are made to help with the purposes of this part of the law. The Governor-General makes these rules by Order in Council.

The rules made under this law are called secondary legislation, which means they are a type of law that supports the main law, and you can learn more about publication requirements for secondary legislation in Part 3 of the Legislation Act 2019. These rules must also be confirmed by an Act of Parliament, and you can find out more about this process in subpart 3 of Part 5 of the Legislation Act 2019. This confirmation is an important step in making sure the rules are valid.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS536612.

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Part 7Crisis management and resolution
Conduct of resolution: Regulations may confer additional powers

333Bank’s or resolution manager’s powers under regulations

  1. The Governor-General may, by Order in Council, make regulations conferring on the Bank or the resolution manager ancillary or additional powers necessary or desirable for the purposes of this subpart.

  2. Regulations made under this section—

  3. are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements); and
    1. must be confirmed by an Act (see subpart 3 of Part 5 of the Legislation Act 2019).

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      Notes