Deposit Takers Act 2023

Depositor compensation scheme - Entitlement to compensation - Entitlements subject to regulations

213: Regulations may take into account transactions that have not been processed at quantification time

You could also call this:

"Rules can consider transactions that haven't been processed yet when working out your protected deposits."

Illustration for Deposit Takers Act 2023

When you deal with protected deposits, there are rules to follow. If you have a transaction that has not been processed at the time your deposit is quantified, the regulations can take this into account. The regulations can do this if a transaction was entered into before the quantification time and an instruction was received, but the deposit had not yet been updated to reflect the transaction.

You need to know that the regulations can also consider certain circumstances when deciding whether to take the transaction into account. The regulations can increase or decrease the amount of your protected deposits based on the transaction.

The regulations can specify how the transaction should be taken into account, so you know what to expect.

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This page was last updated on 6 August 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS719667.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rules

212: Regulations may provide for calculation of amount of person’s protected deposits or share of protected deposits, or

"Rules can be made to work out how much of your bank money is protected by law."

214: Regulations may take into account funds that are withdrawn or available to eligible depositors during resolution, or

"Rules consider money you withdraw when a bank has problems and you need compensation"

Part 6Depositor compensation scheme
Entitlement to compensation: Entitlements subject to regulations

213Regulations may take into account transactions that have not been processed at quantification time

This section applies if,—
before the quantification time,—
1. a transaction connected with a protected deposit is entered into and an instruction relating to the transaction has been received by the licensed deposit taker; but
2. the protected deposit has not yet been credited or debited to take into account the transaction; and
the circumstances specified in the regulations (if any) apply.

For the purposes of this subpart, the regulations may provide for the calculation of the amount of a person’s protected deposits or share of protected deposits to be increased or decreased to take into account the transaction.
The regulations may provide for the transaction to be taken into account in the prescribed manner.