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Deposit Takers Act 2023

Crisis management and resolution - No creditor or shareholder worse off - Appeals

391: Appeal against valuer’s decision on question of law

You could also call this:

"Challenging a valuer's decision if you think it's wrong in law"

Illustration for Deposit Takers Act 2023

If you think a valuer's decision is wrong in law, you might be able to appeal to the court. The Minister or the Bank can appeal if they think the valuer made a wrong decision about who is eligible for compensation or how much compensation they should get. You can also appeal if you think the valuer's decision about your eligibility for compensation or the amount you should get is wrong in law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS553104.

Topics:
Money and consumer rights > Banking and loans
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Part 7Crisis management and resolution
No creditor or shareholder worse off: Appeals

391Appeal against valuer’s decision on question of law

  1. If the Minister or the Bank considers (or both consider) that any of the following decisions of a valuer is wrong in law, the Minister or the Bank (or both) may appeal to the court against the decision on a question of law only:

  2. a decision on whether a person, a class of persons, or persons generally are eligible for compensation:
    1. a decision on the amount of compensation to be paid to all or any of those persons.

      1. If a person (A) considers that either of the following decisions of the valuer is wrong in law, A may appeal to the court against the decision on a question of law only:

      2. a decision on whether A is eligible for compensation:
        1. a decision on the amount of compensation to be paid to A.