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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 extra powers to banks or managers in case of problems"

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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 this part of the law. The rules are considered secondary legislation, which means they have to follow certain rules, such as being published, as outlined in Part 3 of the Legislation Act 2019, and they must be confirmed by an Act, as explained in subpart 3 of Part 5 of the Legislation Act 2019.

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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