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Student Loan Scheme Act 2011

Preliminary matters, loan advances, and New Zealand-based and overseas-based borrowers - Establishment of student loan

10: Loan manager must notify Commissioner of persons who apply for student loan

You could also call this:

"Student loan manager tells tax office about loan requests"

The person in charge of managing student loans must tell the Commissioner about everyone who asks for a student loan. When they do this, they need to share some important information about the person asking for the loan. This includes the person's full name, their tax file number, when they were born, and any other details that the rules say are needed.

The person managing the loans and the Commissioner can decide together how often they should share this information, what it should look like, and how they should send it to each other. They need to write down what they agree on. Even though there's a rule about how to share information in section 211 of the law, the loan manager and Commissioner can choose their own way of doing it for this specific task.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3180076.

Topics:
Education and learning > Higher educationMoney and consumer rights > Banking and loans
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9: Purposes of sections 10, 11, 16, and 17, or

"Why the law lets people share information about student loans"

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11: Commissioner must confirm information provided by loan manager, or

"IRD checks if student loan info is correct"

Part 1Preliminary matters, loan advances, and New Zealand-based and overseas-based borrowers
Establishment of student loan

10Loan manager must notify Commissioner of persons who apply for student loan

  1. The loan manager must notify the Commissioner of all persons who apply for a student loan.

  2. That notification must include the following information:

  3. the applicant's full name; and
    1. the applicant's tax file number; and
      1. the applicant's date of birth; and
        1. any further information specified in regulations.

          1. The Commissioner and the loan manager may, for the purpose of this section, determine by written agreement between them—

          2. the frequency with which that notification must be supplied; and
            1. the form in which that notification must be supplied; and
              1. the method by which that notification must be supplied.

                1. Subsection (3)(b) and (c) apply despite section 211.