Regulatory Alerts2020-09-02
Non-bank Deposit Takers (UDC Finance Limited) Exemption Revocation Notice 2020
The Reserve Bank of New Zealand has revoked the Non-Bank Deposit Takers (UDC Finance Limited) Exemption Notice 2016 under section 70 of the Non-bank Deposit Takers Act 2013. The revocation follows the cancellation of UDC Finance Limited’s NBDT licence on 15 January 2020, rendering the previous exemption unnecessary. The notice officially comes into force on 3 September 2020, formally removing the regulatory exemption from the statutory register.
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