Conveyancers Licensing Act 2003
54Approval of authorised deposit-taking institutions
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54 Approval of authorised deposit-taking institutions
54 Approval of authorised deposit-taking institutions
(1) The Secretary may approve an authorised deposit-taking institution for the purposes of this Part and may revoke any such approval by notice in writing to the authorised deposit-taking institution.
(2) The Secretary is not to approve an authorised deposit-taking institution for the purposes of this Part unless satisfied that the institution is able to discharge the obligations of an authorised deposit-taking institution under this Part.
(3) An authorised deposit-taking institution that is the subject of an approval that is in force for the purposes of Part 7 of the Property and Stock Agents Act 2002 is taken to have been approved by the Secretary for the purposes of this Part.
s 54: Subst 2006 No 33, Sch 1 [18]. Am 2018 No 5, Sch 2.5[1].