Depositor Compensation Scheme Regulations

Overview

We are consulting on policy proposals for regulations under the Deposit Takers Act 2023 (DTA).

The DTA creates a new prudential regime by:

• integrating the currently separate regimes for banks and non-bank deposit takers, and

• introducing the Depositor Compensation Scheme (DCS).

Regulations are necessary to bring the DCS into being. Many of the regulations are technical in nature.

Why we need your feedback

Regulations are secondary legislation made by Order in Council on the Minister of Finance's recommendation. We provide advice to the Minister to propose regulations. This consultation will help with the development of this advice.

The DCS levies are to be set by regulations. The DTA specifies that deposit takers will meet all costs of the fund.

Regulations will also help to:

• determine the detailed eligibility rules

• payout conditions, and

• resolve detailed issues such as exemptions and determining balances for payments made but not yet settled.

Read the consultation paper

Depositor Compensation Scheme Regulations consultation paper (PDF, 901KB)

How to have your say

• You can have your say using the online consultation form.  A copy of the questions asked in the consultation is in the consultation paper.
• There is the option to upload a PDF copy of your submission instead. Just follow the online consultation form link below.
• You can save and come back to your response at any time before the consultation close date.
• Once you have submitted your response, a copy of your submission will be emailed to the contact email address provided.