Reprintas at 1 May 2014
Rt Hon Sir Peter Blanchard, Administrator of the Government
At Wellington this 4th day of October 2010
Present:His Excellency the Administrator of the Government in Council
Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.
Note 4 at the end of this reprint provides a list of the amendments incorporated.
These regulations are administered by the Reserve Bank of New Zealand.
Pursuant to section 39 of the Non-bank Deposit Takers Act 2013, His Excellency the Administrator of the Government, acting on the advice and with the 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 made after consultation in accordance with section 76 and taking into account the principles in section 8 of that Act, makes the following regulations.
Enacting statement: amended, on 1 May 2014, by section 92(2) of the Non-bank Deposit Takers Act 2013 (2013 No 104).
3 Trust deed to include liquidity requirements
These regulations are the Deposit Takers (Liquidity Requirements) Regulations 2010.
These regulations come into force on 1 December 2010.
In these regulations, deposit taker means a licensed NBDT as defined in the Non-bank Deposit Takers Act 2013.
Regulation 2A: inserted, on 1 May 2014, by section 92(2) of the Non-bank Deposit Takers Act 2013 (2013 No 104).
(1) Every deposit taker and trustee must ensure that the trust deed includes liquidity requirements.
(2) The liquidity requirements must include at least 1 quantitative liquidity requirement.
(3) Every quantitative liquidity requirement included in a trust deed must—
(a) take into account the liquidity of the deposit taker and, if the deposit taker is part of a borrowing group, the liquidity of the borrowing group; and
(b) be appropriate to the deposit taker's business and, if the deposit taker is part of a borrowing group, to the borrowing group's business.
Rebecca Kitteridge,Clerk of the Executive Council.
Issued under the authority of the Legislation Act 2012.
Date of notification in Gazette: 7 October 2010.
This is a reprint of the Deposit Takers (Liquidity Requirements) Regulations 2010 that incorporates all the amendments to those regulations as at the date of the last amendment to them.
Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.
Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/ .
Non-bank Deposit Takers Act 2013 (2013 No 104): section 92(2)