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 2021.

2. Commencement

This notice comes into force on 12 November 2021.

3. Principal Authorisation

This notice amends the Reserve Bank of New Zealand (Overseas Banks) Class Authorisation Notice 2019 (“principal authorisation”).

4. Clause 13(c) Amended (CONDITIONS)

In clause 13(c) of the principal authorisation, delete the words “under section 36 of the Act”.

Dated at Wellington this 8th day of November 2021.

ANDY WOOD, Head of Supervision.