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Deposit Takers Act 2023

Crisis management and resolution - Conduct of resolution - Bank must act as resolution authority

301: Bank must regularly report to Minister on conduct of resolution

You could also call this:

"Banks must regularly tell the Minister how they are fixing problems"

Illustration for Deposit Takers Act 2023

The Bank has to tell the Minister regularly about how it is handling a resolution. You need to know that the Bank will send reports when the Minister asks for them. The reports will have the information the Minister needs to know.

The Bank must give the Minister the reports and the information at the right time. The Minister will decide when the reports are needed and what information should be in them. You can think of it like the Bank is keeping the Minister updated on its work.

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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=LMS718148.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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Part 7Crisis management and resolution
Conduct of resolution: Bank must act as resolution authority

301Bank must regularly report to Minister on conduct of resolution

  1. The Bank must regularly report to the Minister on the conduct of a resolution.

  2. The reports must—

  3. be made when required by the Minister; and
    1. contain the information required by the Minister.