54Approval of authorised deposit-taking institutions

#### 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](/view/html/inforce/current/act-2002-066) 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\[1\].