Deposit Takers (Persons Declared Not to be Deposit Takers) Regulations 2011: revoked, on 1 May 2014, by section 93(b) of the Non-bank Deposit Takers Act 2013 (2013 No 104).

Note

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 157C(5) of the Reserve Bank of New Zealand Act 1989, His Excellency the Governor-General makes the following regulations, acting—

(a) on the advice and with the consent of the Executive Council; and

(b) 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 157E of that Act and taking into account the principles in section 157F of that Act.

1 Title

2 Commencement

3 Persons declared not to be deposit takers for purposes of Part 5D of Reserve Bank of New Zealand Act 1989

Regulations

1 Title

These regulations are the Deposit Takers (Persons Declared Not to be Deposit Takers) Regulations 2011.

2 Commencement

These regulations come into force on the 28th day after the date of their notification in the Gazette.

3 Persons declared not to be deposit takers for purposes of Part 5D of Reserve Bank of New Zealand Act 1989

(1) The following building societies registered under the Building Societies Act 1965 are declared not to be deposit takers for the purposes of Part 5D of the Reserve Bank of New Zealand Act 1989 (the Act):
- (a) General Equity Building Society:
- (b) Kiwi Deposit Building Society:
- (c) Safe and Sound.
(2) The following credit unions registered under the Friendly Societies and Credit Unions Act 1982 are declared not to be deposit takers for the purposes of Part 5D of the Act:
- (a) Credit Union New Zealand:
- (b) New Zealand Association of Credit Unions.

Rebecca Kitteridge,
Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force 28 days after the date of their notification in the Gazette, declare the following entities not to be deposit takers for the purposes of Part 5D of the Reserve Bank of New Zealand Act 1989 (the Act), which relates to the prudential supervision of deposit takers:

General Equity Building Society, Kiwi Deposit Building Society and Safe and Sound, each of which is registered as a building society under the Building Societies Act 1965:
Credit Union New Zealand and New Zealand Association of Credit Unions, each of which is registered as a credit union under the Friendly Societies and Credit Unions Act 1982.

The effect of the declaration is that Part 5D of the Act no longer applies to these entities.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 13 October 2011.

Reprints notes

1 General

This is a reprint of the Deposit Takers (Persons Declared Not to be Deposit Takers) Regulations 2011 that incorporates all the amendments to those regulation as at the date of the last amendment to them.

2 Legal status

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.

3 Editorial and format changes

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/ .

4 Amendments incorporated in this reprint

Non-bank Deposit Takers Act 2013 (2013 No 104): section 93(b)

Deposit Takers (Persons Declared Not to be Deposit Takers) Regulations 2011