Building Societies Act 1965

Miscellaneous provisions

122B: Registrar may refuse to disclose information relating to inspection

You could also call this:

"Secret inspections: Sometimes the Registrar can keep information about building society checks private"

You have the right to know about inspections of building societies, but sometimes this information can be kept secret for a while. Here's what you need to know:

If someone inspects a building society, they might not have to tell you about it right away. They can keep the information to themselves until they finish what they're doing. This is true even if you ask for the information.

The person in charge, called the Registrar, doesn't have to tell you if an inspection is happening, has happened, or will happen in the future. They only have to share this information if telling you won't hurt the building society's business and if there's no other good reason to keep it secret.

These rules are different from the usual rules about sharing information. They're special rules just for building society inspections.

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This page was last updated on 15 April 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM372379.

Topics:

Money and consumer rights > Banking and loansHousing and property > Buying and selling homes

122A: Powers of inspection of Registrar, or

"The Registrar can check if building societies are following the rules"

122C: Appeals from decisions under section 122B, or

"You can ask a court to review if you're denied information"

Part 9Miscellaneous provisions

122BRegistrar may refuse to disclose information relating to inspection

Notwithstanding anything in the Official Information Act 1982, but subject to subsections (4) and (5) of section 122A, any person who makes an inspection under section 122A(1), and any person to whom that person has, pursuant to subsection (4) or subsection (5) of section 122A or otherwise, given, divulged, or communicated any information that the first-mentioned person has acquired as a result of that inspection, may refuse to disclose any such information to any other person until the purpose for which that inspection is carried out has been satisfied.
Notwithstanding anything in the Official Information Act 1982, where any person requests the Registrar or any person referred to in subsection (4)(a) or (b) or subsection (5)(a) or (b) of section 122A to disclose whether an inspection under section 122A(1) is being, or is proposed to be, or has been carried out, the Registrar or, as the case may require, that person shall not be required to disclose that information under the Official Information Act 1982 unless the disclosure of that information would not be likely to prejudice the commercial position of any society or other person, and there is no other good reason for withholding that information under that Act.

Notes

Section 122B: inserted, on 1 September 1987, by section 29 of the Building Societies Amendment Act 1987 (1987 No 175).