Pursuant to section 2(3) of the Reserve Bank of New Zealand Amendment Act 2008, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following order.

1 Title

2 Commencement of section 157L of Reserve Bank of New Zealand Act 1989

Order

1 Title

This order is the Reserve Bank of New Zealand Amendment Act 2008 Commencement Order 2010.

2 Commencement of section 157L of Reserve Bank of New Zealand Act 1989

Section 157L of the Reserve Bank of New Zealand Act 1989 (as inserted by section 17 of the Reserve Bank of New Zealand Amendment Act 2008) comes into force on 1 December 2010.

Michael Webster,
for 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 brings into force, on 1 December 2010, section 157L of the Reserve Bank of New Zealand Act 1989. This section sets out requirements relating to governance that must be complied with by entities that are deposit takers for the purposes of Part 5D of the Act.

Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 24 June 2010.

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

Reserve Bank of New Zealand Amendment Act 2008 Commencement Order 2010