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Property and Stock Agents Act 2002
87Approval of authorised deposit-taking institutions
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87 Approval of authorised deposit-taking institutions
87 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.