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Deposit Takers Act 2023

Repeals and amendments to other Acts - Amendments to Reserve Bank of New Zealand Act 2021

480: Section 74 amended (Ability to delegate)

You could also call this:

"Law change: who can do jobs on behalf of others"

Illustration for Deposit Takers Act 2023

The law says you can delegate some tasks to someone else. If you are a person appointed as a resolution manager under Part 7 of the Deposit Takers Act 2023, you might get some tasks delegated to you. You can find more information about this in section 74(1)(f) of the law.

The board can delegate some of its functions or powers to a resolution manager. These functions or powers are listed in sections 285, 286, 289, 295 to 297, 313 to 332, and 340 to 342 of the Deposit Takers Act 2023. You can read about this in section 74(2) of the law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS537241.

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Money and consumer rights > Banking and loansBusiness > Industry rules
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Part 9Repeals and amendments to other Acts
Amendments to Reserve Bank of New Zealand Act 2021

480Section 74 amended (Ability to delegate)

  1. After section 74(1)(f), insert:

  2. a person appointed as a resolution manager under Part 7 of the Deposit Takers Act 2023 (subject to subsection (2A)):

    1. After section 74(2), insert:

    2. The board may delegate to a resolution manager only any of the functions or powers under sections 285, 286, 289, 295 to 297, 313 to 332, and 340 to 342 of the Deposit Takers Act 2023.