When the Bank is going to give advice about regulations for temporary high balance limits, it must talk to deposit takers first. The Bank will consult with licensed deposit takers or people who can represent their views. This happens before the Bank gives advice under section 455(3) about regulations made under section 455(1)(g).
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS592469.
461: Regulations providing for temporary high balance limits, or
"Rules to help keep your money safe when you have a lot in the bank"
463: Regulations providing for calculation of amount of person’s protected deposits or share of protected deposits, or
"Rules for calculating how much of your money is safe in protected deposits"
The Bank must, before giving advice under section 455(3) in relation to regulations under section 455(1)(g), consult licensed deposit takers or the persons or organisations that the Bank considers are able to represent the views of licensed deposit takers.
