Regulatory Alerts2022-05-17
Deposit Takers (Nelson Enterprise Loan Trust) Exemption Notice 2013
The Reserve Bank of New Zealand issued this notice to exempt the Nelson Enterprise Loan Trust from specific capital ratio, related party exposure, and liquidity requirements under the Reserve Bank of New Zealand Act 1989. The exemptions are conditional upon the trust maintaining total liabilities below $2 million, operating as a non-profit charitable entity, and disclosing the exemption details in its promotional materials. The notice was effective from November 1, 2013, until its revocation on October 31, 2016, based on the determination that compliance costs were unduly burdensome for this small-scale community trust.
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