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Deposit Takers Act 2023

Crisis management and resolution - Planning and statement of approach - Bank’s statement of approach to resolution

263: Review of statement of approach

You could also call this:

"The Bank checks and updates its plans every 5 years and tells everyone about it."

Illustration for Deposit Takers Act 2023

The Bank has to check its statement of approach every 5 years to see if it needs any changes. You will know when this happens because the Bank must publish a report on its website after giving it to the Minister. The Bank can also check its statement of approach at any other time if it wants to.

When the Bank checks its statement of approach, it has to think about whether any changes are needed or would be a good idea. The Bank then has to tell the Minister what it found out during the check.

The Bank must put the report on its website as soon as it can after the Minister gets it.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS538664.

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262: Content of statement of approach, or

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Part 7Crisis management and resolution
Planning and statement of approach: Bank’s statement of approach to resolution

263Review of statement of approach

  1. The Bank—

  2. must review the statement of approach within 5 years after the first statement is published and then at subsequent intervals of not more than 5 years; and
    1. may review the statement of approach at any other time.

      1. In carrying out the review, the Bank must—

      2. consider whether any amendments to the statement of approach are necessary or desirable; and
        1. report on the findings to the Minister.

          1. The Bank must publish the report on the Bank’s Internet site as soon as practicable after giving it to the Minister.