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Deposit Takers Act 2023

Crisis management and resolution - Moratorium and restriction on resolution trigger

297: Publication of notice

You could also call this:

"Telling everyone about an important notice"

Illustration for Deposit Takers Act 2023

When a notice is issued under section 295, the Bank must publish it on their website as soon as possible. They must also put a notice in the Gazette to let people know that the notice has been issued. The Bank can make the notice take effect at any time after it is published on their website. The notice cannot be changed or cancelled once it is issued.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS539204.

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Money and consumer rights > Banking and loansBusiness > Industry rules
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296: Matters Bank must be satisfied of when extending stay, or

"Before a bank extends a stay, it must be sure you can pay your debts on time and have enough money."

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"The Bank helps fix problems with banks and other deposit takers."

Part 7Crisis management and resolution
Moratorium and restriction on resolution trigger

297Publication of notice

  1. The Bank must, as soon as practicable,—

  2. publish any notice issued under section 295 on the Bank’s Internet site; and
    1. notify the issue of the notice in the Gazette.

      1. The notice may take effect at any time after it is published under subsection (1)(a).

      2. The notice cannot be varied or revoked.

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