Regulatory Alerts2017-10-30
Deposit Takers (New Zealand Baptist Savings & Development Society Incorporated) Exemption Revocation Notice 2017
The Reserve Bank of New Zealand issued this notice to revoke the 2015 exemption for the New Zealand Baptist Savings & Development Society Incorporated. The revocation follows the cancellation of the entity's Non-bank Deposit Takers licence on 27 September 2017. Consequently, the previous exemption is no longer required and the notice comes into force the day after its notification in the Gazette.
Deposit Takers (New Zealand Baptist Savings & Development Society Incorporated) Exemption Revocation Notice 2017 Under section 70(4) of the Non-bank Deposit Takers Act 2013, the Reserve Bank of New Zealand gives the following notice. Contents Page 1 Title 1 2 Commencement 1 3 Deposit Takers (New Zealand Baptist Savings & Development Society Incorporated) Exemption Notice 2015 revoked 1 Notice 1 Title This notice is the Deposit Takers (New Zealand Baptist Savings & Development Society Incorporated) Exemption Revocation Notice 2017. 2 Commencement This notice comes into force on the day after the date of its notification in the Gazette. 3 Deposit Takers (New Zealand Baptist Savings & Development Society Incorporated) Exemption Notice 2015 revoked The Deposit Takers (New Zealand Baptist Savings & Development Society Incorporated) Exemption Notice 2015 is revoked. Dated at Wellington this 6 \ day of October 2017. Ref#7266323 vi. I Geoff Bascand Deputy Governor
2 Statement of reasons This notice, which comes into force on the day after the date of its notification in the Gazette, revokes the Deposit Takers (New Zealand Baptist Savings & Development Society Incorporated) Exemption Notice 2015 (the Exemption). The NBDT licence granted to New Zealand Baptist Savings & Development Society Incorporated on 26 January 2015 was cancelled on 27 September 2017 and consequently the Exemption is no longer required. Ref #7266323 vl.l