Under section 65(1)(b) of the Reserve Bank of New Zealand Act 1989, the Reserve Bank of New Zealand gives the following notice.

Notice

1. Title

This notice is the Reserve Bank of New Zealand Act (Overseas Banks) Class Authorisation Amendment Notice 2020.

2. Commencement

This notice comes into force on 22 September 2020.

3. Principal Authorisation

This notice amends the Reserve Bank of New Zealand (Overseas Banks) Class Authorisation Notice 2019 (“principal authorisation”), New Zealand Gazette, 26 August 2019, Notice No. 2019-au3999.

4. Clause 14(A) Amended (Revocation)

In clause 14(a) of the principal authorisation, replace “22 September 2020” with “22 September 2024”.

Dated at Wellington this 18th day of September 2020.

ANDY WOOD, Head of Supervision.