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Deposit Takers Act 2023

Crisis management and resolution - No creditor or shareholder worse off - Appointment of valuer

397: Appointment notice must be published

You could also call this:

"Telling everyone when a new valuer is appointed"

Illustration for Deposit Takers Act 2023

When a valuer is appointed, the Minister has to tell everyone by publishing a notice in the Gazette. You can think of the Gazette as an official newspaper where important government announcements are made. The Bank also has to publish the notice of appointment on their Internet site, so you can find the information online.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS547235.

Topics:
Business > Industry rulesMoney and consumer rights > Banking and loans
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396: Application of this subpart to joint valuers, or

"How joint valuers work together to make decisions for an entity"

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398: Minister may terminate appointment of valuer, or

"The Minister can fire a valuer if they're not doing their job properly."

Part 7Crisis management and resolution
No creditor or shareholder worse off: Appointment of valuer

397Appointment notice must be published

  1. The Minister must publish the notice of appointment of a valuer in the Gazette.

  2. The Bank must publish the notice of appointment on the Bank’s Internet site.