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Deposit Takers Act 2023

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

380: Valuer must finalise and publish report

You could also call this:

"The valuer must finish and share the report with the Minister and the Bank."

Illustration for Deposit Takers Act 2023

If a notice is given under section 379, you, as the valuer, must reconsider the draft report, finalise it, and provide it to the Minister and the Bank. You do this by looking at the parts of the report that the notice tells you to reconsider. Then you finish the report and give it to the Minister and the Bank.

If no notice is given under section 379 within 20 working days after you give the draft report under section 378, you must finalise the report and provide it to the Minister and the Bank. The Bank then puts the report on its website.

The Bank might not put all the information from the report on its website, it can leave some out to protect people's privacy, or if the information is confidential or sensitive. The Bank can also leave out information if it thinks there's a good reason to keep it secret, like if someone asked for the information under the Official Information Act 1982.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS550933.

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"The Minister or Bank can ask a valuer to redo their report if it's not done correctly."

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

380Valuer must finalise and publish report

  1. If a notice is given under section 379, the valuer must—

  2. reconsider the draft report or any aspect of the draft report in the manner specified in the notice; and
    1. finalise the report; and
      1. provide the finalised report to the Minister and the Bank.

        1. If no notice is given under section 379 within 20 working days after the draft report is given under section 378, the valuer must—

        2. finalise the report; and
          1. provide the finalised report to the Minister and the Bank.

            1. The Bank must publish the report on its Internet site.

            2. The regulations may require or permit the Bank to redact information from the copy of the report that is published (for example, to protect privacy, confidentiality, or commercially sensitive information).

            3. The Bank may also redact from the copy of the report that is published any information if the Bank considers there would be a good reason for withholding the information under the Official Information Act 1982 if a request for that information were made under that Act.