NZClear Membership
The Reserve Bank will consider an application for NZClear membership from any institution (domestic or foreign), which, in the opinion of the Reserve Bank, is of good standing and has the necessary resources to meet its obligations as a member.
All members will generally be required to either:
- have to hold a certificate of exemption from Resident Withholding Tax, or
- in the case of members who are not resident in New Zealand for tax purposes, only be permitted to hold in NZClear fixed interest securities issued by either the New Zealand Government , local government funding authority or Reserve Bank of New Zealand (with the issuer paying the Approved Issuer Levy on non-resident withholding income).
Applying for membership
Copies of the membership application pack can be obtained from the NZClear HelpDesk.
If the applicant meets the membership criteria and has correctly completed the application forms, the applicant will become an approved participant of NZClear.