Pursuant to section 2(1) and (2) of the Non-bank Deposit Takers Act 2013, 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 sections 94 to 101 of Non-bank Deposit Takers Act 2013

Order

1 Title

This order is the Non-bank Deposit Takers Act Commencement Order (No 2) 2014.

2 Commencement of sections 94 to 101 of Non-bank Deposit Takers Act 2013

Sections 94 to 101 of the Non-bank Deposit Takers Act 2013 come into force on 1 December 2014.

Michael Webster,
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 sections 94 to 101 of the Non-bank Deposit Takers Act 2013 (the Act) on 1 December 2014. Those sections relate to amendments to the Act that are required as a consequence of provisions of the Financial Markets Conduct Act 2013 coming into force on 1 December 2014. On that date, all of the provisions of the Act will have commenced except for section 91(2) and (4) (which comes into force on 1 May 2015 under section 2(3) of the Act).

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 4 November 2014.

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

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Non-bank Deposit Takers Act Commencement Order (No 2) 2014