DFC New Zealand Limited (Statutory Management) Order 1989

  • revoked
  • DFC New Zealand Limited (Statutory Management) 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

DFC New Zealand Limited (Statutory Management) Order 1989

(SR 1989/280)

  • DFC New Zealand Limited (Statutory Management) 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 the Reserve Bank of New Zealand Act 1964, His Excellency the Administrator of the Government, acting by and with the advice and consent of the Executive Council, and on the advice of the Minister of Finance given in accordance with a recommendation of the Reserve Bank of New Zealand under section 38R(1) of that Act, hereby makes the following order.

1 Title and commencement
  • (1) This order may be cited as the DFC New Zealand Limited (Statutory Management) Order 1989.

    (2) This order shall come into force at 8 am on the 3rd day of October 1989.

2 Statutory management of DFC New Zealand Limited
  • It is hereby declared that DFC New Zealand Limited is subject to statutory management.

3 Statutory managers
  • (1) Donald Leroy Francis and Thomas Hughes Lloyd Davies, both of Wellington, Chartered Accountants, are hereby appointed as statutory managers of DFC New Zealand Limited.

    (2) The appointment of the statutory managers shall be for a term of 6 months.

    (3) The powers conferred on the statutory managers by Part 5C of the Reserve Bank of New Zealand Act 1964 may be exercised by those persons individually.

4 Management to vest in statutory managers
  • The management of DFC New Zealand Limited shall, for the purposes of section 38Z of the Reserve Bank of New Zealand Act 1964, vest in the statutory managers at and after 8 am on the 3rd day of October 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, which comes into force at 8 am on 3 October 1989, declares DFC New Zealand Limited to be subject to statutory management under the Reserve Bank of New Zealand Act 1964. The order appoints statutory managers in respect of that company. The order empowers the statutory managers to exercise individually the powers conferred by Part 5C of the Act.

One effect of the order is that, by virtue of section 38R(3) of the Act, subsidiaries of DFC New Zealand Limited also become subject to statutory management.


Issued under the authority of the Regulations Act 1936.

Date of notification in Gazette: 3 October 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 DFC New Zealand Limited (Statutory Management) 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