Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

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

401: Valuer’s costs, charges, and expenses

You could also call this:

"Paying a valuer's fees and expenses from government money."

Illustration for Deposit Takers Act 2023

The Minister can pay a valuer's costs, charges, and expenses from a Crown Bank Account. You need to know that this includes what the valuer earns for their work. The Minister decides how much to pay the valuer, and it is for costs, charges, and expenses that the valuer has incurred or is owed.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS549278.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
Previous

400: Valuer continues in office, or

"A valuer keeps working until a new one is appointed or the Minister says to stop."

Next

402: Valuer’s duties in relation to records, or

"Valuers must keep and share work records with the Bank and others as required by law."

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

401Valuer’s costs, charges, and expenses

  1. The Minister may pay to a valuer (A), out of a Crown Bank Account, the amounts that the Minister thinks fit in respect of costs, charges, and expenses (including remuneration) due to, or incurred by, A.