Following consideration of an application made under section 51 of the Financial Service Providers (Registration and Dispute Resolution) Act 2008 ("the Act"), and after consultation with the Minister of Finance and the Minister of Commerce, I give notice that I have granted approval, under section 53 of the Act, to the dispute resolution scheme called the Banking Ombudsman Scheme established under the documents entitled Constitution Relating to Banking Ombudsman Scheme Limited, Participation Agreement Relating to Banking Ombudsman Scheme Limited and the Banking Ombudsman Terms of Reference.
The Banking Ombudsman Scheme has the purpose of providing a free service to customers of participating
banks in order to help those customers resolve disputes
with participating banks.
Copies of the constitution, participation agreement and terms of reference that comprise the Banking Ombudsman Scheme are available from the following website
www.bankomb.org.nz/eng
Dated at Wellington this 24th day of August 2010.
HON JOHN BOSCAWEN, Minister of Consumer Affairs.