Deposit Takers Act 2023

Crisis management and resolution - Resolution manager - Key duties

355: Resolution manager must regularly report as required by Bank

You could also call this:

"The person in charge must tell the Bank how things are going, as often as the Bank says."

Illustration for Deposit Takers Act 2023

If you are a resolution manager, you must give reports to the Bank. The Bank will tell you how often to give these reports and what to include in them. You will need to report on the state of the deposit taker's affairs, business, and resolution.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS718391.


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354: Resolution manager must consult and have regard to Bank advice, or

"Resolution manager must talk to the Bank and consider their advice when making decisions."


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356: Resolution manager must report annually on conduct of resolution, or

"The person in charge must write a yearly report on how they handled problems with banks and other deposit takers."

Part 7Crisis management and resolution
Resolution manager: Key duties

355Resolution manager must regularly report as required by Bank

  1. A resolution manager must, in the manner specified by the Bank, provide the reports that the Bank may require about the state of the affairs, business, and resolution of the licensed deposit taker in resolution.