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Deposit Takers Act 2023

Miscellaneous - Regulations

464: Regulations providing for transactions that have not been processed

You could also call this:

"Rules for when money transfers get stuck and haven't been processed yet"

Illustration for Deposit Takers Act 2023

Before the Minister recommends new rules under section 455(1)(k), you need to know they must do two things. They must be sure the rules are necessary to help with payments that have not been processed. The Minister must also think about the purpose of Part 6 which is explained in section 190. This is to ensure the rules are fair for transactions that section 213 applies to.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS719814.

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Money and consumer rights > Banking and loansBusiness > Industry rules
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463: Regulations providing for calculation of amount of person’s protected deposits or share of protected deposits, or

"Rules for calculating how much of your money is safe in protected deposits"

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465: Regulations providing for taking into account funds that are withdrawn or available to eligible depositors during resolution, or

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Part 8Miscellaneous
Regulations

464Regulations providing for transactions that have not been processed

  1. The Minister must, before recommending regulations under section 455(1)(k),—

  2. be satisfied that the regulations are necessary or desirable to provide certainty about the treatment of payments made under transactions to which section 213 applies; and
    1. have regard to the purpose of Part 6 set out in section 190.