Reserve Bank of New Zealand Amendment Act 1993

Reserve Bank of New Zealand Amendment Act 1993

Public Act1993 No 118
Date of assent28 September 1993

Note

This Act is administered in the Reserve Bank of New Zealand.


BE IT ENACTED by the Parliament of New Zealand as follows:

1 Short Title and commencement
  • (1) This Act may be cited as the Reserve Bank of New Zealand Amendment Act 1993, and shall be read together with and deemed part of the Reserve Bank of New Zealand Act 1989 (hereinafter referred to as the principal Act).

    (2) This Act shall come into force on the 1st day of July 1994.

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4 Application of certain provisions of Companies Act 1993
  • This section substituted s 139 of the principal Act.

5 Transitional provisions
  • Nothing in section 4 of this Act applies to or affects—

    • (a) A registered bank that was subject to statutory management under the principal Act immediately before the commencement of this Act:

    • (b) Any transaction entered into by a registered bank or anything done by any person before the commencement of this Act—

    and, in any such case, sections 308 (except subsection (1)(d)), 309 to 311C, and 319 to 321 of the Companies Act 1955, as in force before the commencement of this Act, shall continue to apply to the registered bank in all respects and with such modifications as may be necessary, as if—

    • (c) The registered bank were a company that was being wound up under the Companies Act 1955; and

    • (d) The statutory manager of the registered bank was the liquidator of the company; and

    • (e) The date on which the registered bank became subject to statutory management was the date of the commencement of the winding up.

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