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Deposit Takers Act 2023

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

396: Application of this subpart to joint valuers

You could also call this:

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

Illustration for Deposit Takers Act 2023

When the Minister chooses two or more people to be valuers for an entity, they must say how these valuers will work. The Minister must decide if the valuers need to work together to make decisions or if they can make decisions on their own. This decision is made when the Minister gives notice under section 369.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS547236.

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395: Who may be appointed as valuer, or

"Who can be chosen to decide the value of something as a valuer?"

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397: Appointment notice must be published, or

"Telling everyone when a new valuer is appointed"

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

396Application of this subpart to joint valuers

  1. If a notice or notices under section 369 appoint 2 or more persons as valuer in relation to an entity, the Minister must state in the notice or notices whether the functions, powers, or duties imposed or conferred by this subpart must be performed or exercised by those persons acting together or may be performed or exercised individually.