General Finance fourth finance company to gain licence

Wednesday, February 18th 2015, 10:51AM

General Finance has been issued with Non-bank Deposit Takers licence by the Reserve Bank.

It is a requirement of the Non-bank Deposit Takers Act 2013 (NBDT Act) that non-bank deposit takers become licensed no later than 30 April 2015.

To date, in addition to credit unions and building societies, the register includes just four licensed finance companies, including General Finance.

The public register of licensed NBDTs is available here.

General Finance specialises in short term advances, secured over residential property.

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