Non-bank Deposit Takers Act 2013

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

Part 4 Miscellaneous provisions


70 Exemptions from Act and regulations


The Bank may exempt any licensed NBDT, class of licensed NBDTs, or trustee from compliance with any provision of—


this Act (except the requirement to be licensed); or


the regulations.


The Bank must not grant an exemption under this section unless it is satisfied that—


the exemption will be consistent with the maintenance of a sound and efficient financial system; and


compliance with the relevant provision or provisions would, in the circumstances, require the licensed NBDT, class of licensed NBDTs, or trustee to comply with requirements that are unduly onerous or burdensome; and


the extent of the exemption is not broader than is reasonably necessary to address the matters that gave rise to the exemption.


An exemption may be granted on any terms and conditions that the Bank thinks fit, including terms and conditions relating to the following:


risk management:






minimum capital requirements:


exposures to related parties:





Compare: 1978 No 103 ss 70B–70D; 1989 No 157 s 157G

Section 70(4): repealed, on 28 October 2021, by section 3 of the Secondary Legislation Act 2021 (2021 No 7).