Deposit taker
Up one levelA deposit taker is a person who:
(a) offers debt securities to the public in New Zealand; AND
(b) carries on the business of borrowing and lending money, or providing financial services, or both;
Including:
(i) a building society incorporated under the Building Societies Act 1965 or 1908, unless the building society is a registered bank; and
(ii) a credit union registered under the Friendly Societies and Credit Unions Act 1982 (including an Association).
But not including:
(i) an issuer of a collective investment scheme:
(ii) a registered bank:
(iii) a local authority:
(iv) the Crown (including all Ministers and all departments but excluding Crown Entities and State Owned Enterprises).
Examples of deposit-takers include:
• Finance companies
• Credit Unions
• Building Societies
