Regulatory Alerts2022-02-27
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Applying for a non-bank deposit takers exemption
The Reserve Bank of New Zealand outlines the procedural requirements for non-bank deposit takers seeking exemptions from the Non-bank Deposit Takers Act 2013. Applicants must submit a written application detailing their business nature, specific exemptions sought, and justification demonstrating that compliance would be unduly burdensome. The process involves regulatory assessment, potential drafting of an exemption notice, and publication in the New Zealand Gazette, typically taking three months to complete.
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