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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Board of Bank and its members - Individual duties of members

54: Duty not to disclose information

You could also call this:

"Keep Bank secrets safe, only share when allowed"

Illustration for Reserve Bank of New Zealand Act 2021

You must not share secret information you get as a board member. You can use this information when doing the Bank's work. You can also share it if the law says you can. You can share secret information if the board says it is okay. The board will only say it is okay if sharing the information will not hurt the Bank. You can also share information when you need to tell people about your interests. You can look at the old law for more information.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287081.

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Part 2Reserve Bank of New Zealand
Board of Bank and its members: Individual duties of members

54Duty not to disclose information

  1. A member of the board who has information in their capacity as a member that would not otherwise be available to them must not disclose that information to any person, or make use of, or act on, that information, except—

  2. in the performance of the Bank’s functions; or
    1. as required or permitted by law; or
      1. in accordance with subsection (2); or
        1. in complying with the requirements for members to disclose interests.

          1. A member may disclose, make use of, or act on the information if—

          2. the member is first authorised to do so by the board; and
            1. the disclosure, use, or act in question will not, or will be unlikely to, prejudice the Bank.

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