Act In force Latest version as at 03 September 2007 (as enacted) | 1999 No 22 | Administered by Reserve Bank of New Zealand

Reserve Bank of New Zealand Amendment Act 1999

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Statutory management of registered banks and associated persons

Statutory manager may suspend payment of money owing

Management of registered bank to vest in statutory manager

Application of certain provisions of Companies Act 1993

Termination of statutory management

Reserve Bank of New Zealand Amendment Act 1999

Public Act	1999 No 22
Date of assent	26 April 1999

Contents

2 Statutory management of registered banks and associated persons

4 Statutory manager may suspend payment of money owing

5 Management of registered bank to vest in statutory manager

6 Application of certain provisions of Companies Act 1993

7 Termination of statutory management

An Act to amend the Reserve Bank of New Zealand Act 1989

BE IT ENACTED by the Parliament of New Zealand as follows:

1 Short Title

This Act may be cited as the Reserve Bank of New Zealand Amendment Act 1999, and is part of the Reserve Bank of New Zealand Act 1989 (“the principal Act”).

2 Statutory management of registered banks and associated persons

This section inserted s 117(4) and (5) of the principal Act.

3 Moratorium

(1) This subsection amended s 122(5) and (6) of the principal Act.

(2) This subsection inserted s 122(7) of the principal Act.

4 Statutory manager may suspend payment of money owing

(1) This subsection amended s 127(3) of the principal Act.

(2) This subsection inserted s 127(4) of the principal Act.

5 Management of registered bank to vest in statutory manager

This section amended s 128(1) of the principal Act.

6 Application of certain provisions of Companies Act 1993

(1) This subsection amended s 139(1) of the principal Act.

(2) This subsection substituted Section 139(1)(c) of the principal Act.

7 Termination of statutory management

- (a) This paragraph amended s 144(4)(a) to (c) of the principal Act.
- (b) This paragraph amended s 144(5) of the principal Act.
- (c) This paragraph amended s 144(5)(a) and (b) of the principal Act.
- (d) This paragraph amended s 144(6)(a) of the principal Act.
- (e) This paragraph amended s 144(6)(b) and (c) of the principal Act.