Non-bank Deposit Takers Act 2013

If you need more information about this Act, please contact the administering agency: Reserve Bank of New Zealand

Version as at 1 July 2022

Coat of Arms of New Zealand

Non-bank Deposit Takers Act 2013

Public Act
2013 No 104
Date of assent
3 December 2013
see section 2

The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

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


5NBDT defined
6Related party defined
7Bank’s function under this Act
8Principles to take into account when exercising powers
9Bank to have regard to directions about government policy objectives [Repealed]
10Act binds the Crown
11NBDTs to be licensed
12No holding out
13Application for NBDT licence
14Determining applications for licence
15Requirements of suitability notices
16Dealing with suitability notices
17Grant of licence
18Licence may be subject to conditions
19Kinds of licence conditions and their effect
20Changing or removing conditions
21Grounds for cancelling licence
22Procedure for cancelling licence
23Licensed NBDTs to have current credit rating
24Regulations relating to credit ratings
25Requirement for independent directors
26Certain provisions in governing document of no effect
27Licensed NBDTs to have and comply with risk management programme
28Trustee role in risk management programmes
29Risk management programmes to be reviewed
30Regulations relating to minimum capital requirements
31Ensuring minimum capital requirements included in trust deeds
32Licensed NBDTs to maintain not less than minimum capital prescribed
33Regulations relating to capital ratios
34Ensuring capital ratio included in trust deeds
35Licensed NBDTs to maintain required capital ratio
36Regulations relating to exposure to related parties
37Ensuring maximum limit on related party exposures included in trust deeds
38Licensed NBDT not to exceed maximum limit on related party exposures
39Regulations relating to liquidity requirements
40Ensuring liquidity requirements included in trust deeds
41Licensed NBDTs to comply with liquidity requirements
42Directors’ obligation on becoming aware of suitability concerns
43Bank’s consent for change of ownership
44Bank may require trustee to attest to licensed NBDT’s compliance
45Trustee to report to Bank on licensed NBDT non-compliance
46Trustees to disclose certain information about licensed NBDTs to Bank
47Bank may require information, etc, from licensed NBDT
48Bank may require information, etc, from associated persons
49Bank may require reports for investigation purposes
50Bank may require trustee to provide information about licensed NBDTs
51Bank may require information if offence suspected
52Power to enter and search
53Privileges where information required to be disclosed
54Confidentiality of information
55Application of Official Information Act 1982
56Bank directions to licensed NBDTs and associated persons
57Bank directions to trustees
58Miscellaneous matters relating to directions
59Obligation to comply with directions
60Bank’s powers to remove or appoint directors of licensed NBDTs and associated persons
61Procedures for removal and appointment of directors
62Appeal against Bank decisions on suitability
63Appeal to Court of Appeal on question of law
64Definitions of levels of penalties
65General offences
66Offence to disclose giving of direction or notice
67Defence to charge under Act
68Liability of directors for offences of NBDTs and associated persons
69Limitation period
70Exemptions from Act and regulations
71Status and publication of exemptions
72Effect of exemption
74Extension of regulation-making powers relating to prudential obligations
75Material incorporated by reference in regulations
76Bank to consult before recommending regulations
77Protection of trustees
78Amendments to trust deeds treated as authorised
79Trustees may execute amendment to trust deeds
80Protection from liability for Bank, etc [Repealed]
81Indemnity for Bank, etc [Repealed]
82Notice and service of documents
83Power to amend, revoke, or replace notices, etc
84Obligations under this Act not limited
85Register of licensed NBDTs
86Rating agencies
87Transitional arrangements for pre-existing NBDTs
88Exemptions continue in force
89Transitional references in Reserve Bank of New Zealand Act 1989 [Repealed]
90Amendment to Corporations (Investigation and Management) Act 1989
91Amendments to Financial Service Providers (Registration and Dispute Resolution) Act 2008
92Consequential amendments in Schedules 2 and 3
93Consequential revocation of regulations
94Principal Act amended
96NBDT defined
97Determining applications for licence
98Kinds of licence conditions and their effect
99Grounds for cancelling licence
100Bank directions to licensed NBDTs and associated persons
101Bank’s powers to remove or appoint directors of licensed NBDTs and associated persons
102Amendments relating to financial markets legislation

The Parliament of New Zealand enacts as follows: