When you make an undertaking, it starts and becomes enforceable when the Bank tells you they accept it. The Bank will tell you when this happens, or they might say it will happen at a later time that they choose. You will know when the undertaking is enforceable because the Bank will let you know.
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 It might be out of date or be missing some parts.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=LMS692952.
An undertaking takes effect and becomes enforceable when the Bank’s decision to accept the undertaking is given to the person who made the undertaking, or at any later time specified by the Bank.
