Supplementary Order Paper No 225

Clause 11: new section 157J

To insert the following subsections after subsection (1A) (after line 25 on page 18):

  • (1B) The Bank may, at any time, review the approval of a person as a rating agency, and in conducting the review the Bank must have regard to the matters in subsection (1A).

  • (1C) If, after conducting the review, the Bank considers that the person should no longer be an approved rating agency, it may revoke the approval.