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They are particularly common in relation to rented accommodation, where they may also be referred to as a tenancy deposit, bond deposit, [1] or bond. The owner of the item (the landlord in the case of accommodation) will take a sum of money from the person(s) renting the item (the tenant).
In 1986, The Residential Tenancies Act was passed and The Ministry of Housing was formed. This entity was responsible for government housing policy, managing the State Housing Appeals Authority, holding and managing Tenancy bond monies, providing tenancy advice (Tenancy Services), delivering mediations and administration of The Tenancy Tribunal.
New Zealand Tenancy Bonds made an unconditional offer to purchase Mooney's Christchurch property which was accepted the same day. The sale agreement specified that the deposit was to be paid "immediately on acceptance of this offer". The sale agreement also stated that the payment of the deposit was "strictly of the essence of the contract".
The RTA provides tenancy information, bond management, dispute resolution, compliance and enforcement, and education services. The RTA was previously known as the Rental Bond Authority and was established in 1989. In 1994, the name was changed, and the role of the organisation was expanded.
The Ministry of Housing was established in 1991 by the Fourth National Government as a policy advice agency alongside Housing New Zealand Corporation, which managed the state housing portfolio. [1] The Ministry of Social Policy, later the Ministry of Social Development (MSD), gained a housing policy role in the late 1990s. [1]
Toll New Zealand (rolling stock and inter-island ferries) Ontrack (track and infrastructure) Formerly New Zealand Rail (1990–1995), Tranz Rail (1995–2002), Toll New Zealand (2002–2008) Kordia: 1 July 1989 Subsidiary of Television New Zealand: Formerly Broadcast Communications Limited or BCL, renamed 2006. Landcorp: 1 April 1987
In 2011, Archives New Zealand and the National Library of New Zealand were merged back into the Department of Internal Affairs. [2] [9] Before 1 February 2011 Archives New Zealand was a separate government department. [9] In 2018, the Christchurch office moved to a new location in Wigram near the Air Force Museum of New Zealand. [10] [11]
In finance, a security interest is a legal right granted by a debtor to a creditor over the debtor's property (usually referred to as the collateral [1]) which enables the creditor to have recourse to the property if the debtor defaults in making payment or otherwise performing the secured obligations. [2]