New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) In—
(a) having regard, under section 73(2)(c), to the ability of an applicant for registration as a registered bank to carry on its business or proposed business in a prudent manner; or
(b) determining under section 77(2)(f) or section 113(1)(e) that a registered bank has not carried on its business in a prudent manner,—
the Bank shall confine its consideration to the following matters:
(c) capital in relation to the size and nature of the business or proposed business:
(d) loan concentration or proposed loan concentration and risk exposures or proposed risk exposures:
(e) separation of the business or proposed business from other business and from other interests of any person owning or controlling the applicant or registered bank:
(f) internal controls and accounting systems or proposed internal controls and accounting systems:
(fa) risk management systems and policies or proposed risk management systems and policies:
(fb) arrangements for any business, or functions relating to any business, of the applicant or registered bank to be carried on by any person other than the applicant or the registered bank:
(g) such other matters as may from time to time be prescribed in regulations.
(2) The Governor-General may, from time to time, by Order in Council, on the advice of the Minister given in accordance with a recommendation of the Bank, make regulations prescribing additional matters for the purposes of subsection (1)(g).
(3) The Governor may, from time to time, issue, in such manner as the Governor may determine, guidelines for the purpose of interpreting any of the matters referred to in paragraphs (c) to (g) of subsection (1).
Section 78(1)(b): amended, on 21 August 2003, by section 19(1) of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).
Section 78(1)(fa): inserted, on 21 August 2003, by section 19(2) of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).
Section 78(1)(fb): inserted, on 21 August 2003, by section 19(2) of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).
Section 78(3): amended, on 24 March 1995, by section 5 of the Reserve Bank of New Zealand Amendment Act 1995 (1995 No 5).
