Your browser is not supported

Our website does not support the browser you are using. For a better browsing experience update to a compatible browser like the latest browsers from Chrome, Firefox and Safari.

Non-bank Deposit Takers Act

Legislation to further tighten the rules for Non-bank Deposit Takers (NBDT).

The Non-bank Deposit Takers Bill was introduced into Parliament in 2011. This Bill provided for the licensing of NBDTs by the Reserve Bank, a process for making suitability assessments in respect of an NBDT’s directors and senior officers, and various other matters.

The Minister of Finance issued a media statement announcing the Bill’s introduction into Parliament in August 2011.

Media statement from the Minister of Finance (PDF 350KB)

The Bill was enacted in December 2013 and came into force on 1 May 2014. Following the Bill coming into force there was a 12 month transitional period for existing NBDTs to be licensed. The licensing of existing NBDTs was completed by 30 April 2015.