Deposit Takers Act 2023

Crisis management and resolution - No creditor or shareholder worse off - Compensation notice and payments

382: Bank must make available public information if compensation notice cannot be sent

You could also call this:

"Banks must share public information if they can't send you a compensation notice."

Illustration for Deposit Takers Act 2023

If it is not possible to send a compensation notice to you, the Bank does not have to send it. This might happen if you are a pre-resolution creditor or a pre-resolution shareholder and the Bank cannot send you the notice. The Bank must then make certain information available to the public.

The information the Bank makes available is what the regulations say must be shared. The Bank must share this information in the way the regulations say it should be shared. You can find out more about when the Bank does not have to send a compensation notice in Section 381.

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 It might be out of date or be missing some parts.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 6 August 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS559083.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rules

381: Valuer must send compensation notice, or

"Valuer must tell you about your compensation"

383: Bank must manage and administer payments of compensation, or

"Banks must help people get the compensation they are owed"

Part 7Crisis management and resolution
No creditor or shareholder worse off: Compensation notice and payments

382Bank must make available public information if compensation notice cannot be sent

Section 381 does not apply if it is not reasonably practicable to send a compensation notice to a pre-resolution creditor or a pre-resolution shareholder (or to a class of those persons).
If subsection (1) is relied on, the Bank must instead make the information that is prescribed by the regulations available to the public in the manner prescribed by those regulations.