Deposit Takers Act 2023

Miscellaneous - Levy for Crown to recover cost of public support of deposit taker in financial distress or other difficulties

472: Consultation about proposed levy regulations

You could also call this:

"The government talks to banks about proposed levy rules before making a decision."

Illustration for Deposit Takers Act 2023

Before the Minister makes a decision, you need to know they must talk to deposit takers or people who can speak for them. The Minister wants to hear their thoughts on proposed levy regulations. This conversation must include discussing how much deposit takers should pay in levies or how to calculate these payments.

The Bank can have this conversation with deposit takers on the Minister's behalf if they both agree. You should understand that the Minister and the Bank must be in agreement for the Bank to take on this role. The Bank will then talk to deposit takers about the proposed levy regulations.

The Minister and the Bank are working together to make sure deposit takers have a say in the proposed regulations. They want to make sure everyone's voice is heard before making any decisions about levies.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS704892.


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Part 8Miscellaneous
Levy for Crown to recover cost of public support of deposit taker in financial distress or other difficulties

472Consultation about proposed levy regulations

  1. The Minister must, before making a recommendation, ensure that licensed deposit takers or the persons or organisations that the Bank considers are able to represent the views of licensed deposit takers are consulted.

  2. The consultation must include consultation relating to the amount of levies or method of calculating or ascertaining the amount of levies.

  3. The Bank may carry out the consultation on the Minister’s behalf if the Minister and the Bank agree to the Bank acting under this subsection.