Trustee Banks Restructuring (Removal of Guarantee of ASB Bank Limited) Order 1989

  • revoked
  • Trustee Banks Restructuring (Removal of Guarantee of ASB Bank Limited) Order 1989: revoked, on 6 November 2008, by clause 3 of the Regulations Revocation Order 2008 (SR 2008/367).

Reprint
as at 6 November 2008

Trustee Banks Restructuring (Removal of Guarantee of ASB Bank Limited) Order 1989

(SR 1989/100)

  • Trustee Banks Restructuring (Removal of Guarantee of ASB Bank Limited) Order 1989: revoked, on 6 November 2008, by clause 3 of the Regulations Revocation Order 2008 (SR 2008/367).


Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

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


PURSUANT to section 31 of the Trustee Banks Restructuring Act 1988, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, and being satisfied, on the advice of the Minister of Finance given on the recommendation of the Reserve Bank of New Zealand, that the ASB Bank Limited has an adequate capital to enable it to carry on business without the application to the company of the provisions of section 30 of that Act, hereby makes the following order.

1 Title
  • This order may be cited as the Trustee Banks Restructuring (Removal of Guarantee of ASB Bank Limited) Order 1989.

2 Removal of guarantee of ASB Bank Limited
  • It is hereby declared that the provisions of section 30 of the Trustee Banks Restructuring Act 1988 shall not apply to deposits made with, and bonds and securities issued by, ASB Bank Limited on and after the 31st day of May 1989.

MARIE SHROFF,

Clerk of the Executive Council.


Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order removes the Government guarantee of deposits made with, and bonds and securities issued by, ASB Bank Limited on and after the 31 May 1989.

Section 30 of the Trustee Banks Restructuring Act 1988 provides for a Government guarantee of deposits with, and certain classes of bond and security issued by, a trustee bank's successor company for a period of 2 years after the date on which the business of a trustee bank was vested in that company under that Act.

Section 31 of that Act empowers the Governor-General, by Order in Council, to declare that section 30 of the Act shall not apply to deposits made with, and bonds and securities issued by, a trustee bank's successor company on and after the date specified in the order.

This order declares that section 30 of the Act shall not apply to deposits with, and bonds and securities issued by, ASB Bank Limited on and after the 31 May 1989.


Issued under the authority of the Regulations Act 1936.

Date of notification in Gazette: 11 May 1989.


Contents

  • 1General

  • 2About this eprint

  • 3List of amendments incorporated in this eprint (most recent first)


Notes
1 General
  • This is an eprint of the Trustee Banks Restructuring (Removal of Guarantee of ASB Bank Limited) Order 1989. It incorporates all the amendments to the order as at 6 November 2008. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007. Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.

2 About this eprint
  • This eprint has not been officialised. For more information about officialisation, please see Making online legislation official under Status of legislation on this site in the About section of this website.

3 List of amendments incorporated in this eprint (most recent first)
  • Regulations Revocation Order 2008 (SR 2008/367): clause 3