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Deposit Takers Act 2023

Crisis management and resolution - No creditor or shareholder worse off - Valuer’s role

370: Functions of valuer

You could also call this:

"What a valuer's job is: deciding payments for people affected by a company's financial troubles"

Illustration for Deposit Takers Act 2023

The functions of a valuer are to make a valuation in relation to an affected entity. You will also decide whether any pre-resolution creditor or pre-resolution shareholder is eligible for a payment of compensation under this subpart. If they are eligible, you will decide the amount of that compensation.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS549183.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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369: Minister must appoint valuer, or

"The Minister must choose someone to work out how much a company is worth when it has problems."

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371: Valuer must act in manner prescribed by regulations, or

"Valuers must follow the rules when doing their job"

Part 7Crisis management and resolution
No creditor or shareholder worse off: Valuer’s role

370Functions of valuer

  1. The functions of a valuer are to—

  2. make a valuation in relation to an affected entity; and
    1. decide whether any pre-resolution creditor or pre-resolution shareholder is eligible for a payment of compensation under this subpart and, if so, the amount of that compensation.