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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Subsidiaries

114: Relationship with Companies Act 1993 and other Acts

You could also call this:

"How the Reserve Bank law works with other New Zealand laws"

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You need to know how the Reserve Bank of New Zealand Act 2021 works with other laws. The Companies Act 1993 has rules about what information companies must give to shareholders. However, if the Reserve Bank of New Zealand Act 2021 or the Official Information Act 1982 says a subsidiary of the Bank must provide information, it must do so. You should understand that some parts of the Companies Act 1993 do not apply to subsidiaries of the Bank. For example, a rule about paying compensation to directors who lose their jobs does not apply. In general, both the Companies Act 1993 and the Reserve Bank of New Zealand Act 2021 apply to subsidiaries of the Bank, and following one law can count towards following the other. The Companies Act 1993 is available to read on the New Zealand legislation website, as is the Official Information Act 1982, which has rules about what information must be made available to the public.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287155.

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113: Acquisition of shares or interests in companies, trusts, and partnerships, etc, or

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Part 2Reserve Bank of New Zealand
Subsidiaries

114Relationship with Companies Act 1993 and other Acts

  1. Section 178 of the Companies Act 1993 (which relates to information for shareholders and, among other things, sets out some reasons for which a company can refuse to provide information) does not entitle a subsidiary of the Bank to refuse to provide information that must be provided under this Act or otherwise made available to any person under the Official Information Act 1982.

  2. Section 161(1)(b) of the Companies Act 1993 (which relates to payment to a director or former director of compensation for loss of office) does not apply to a subsidiary of the Bank.

  3. In all other respects, both the Companies Act 1993 and this Act apply to the subsidiary of the Bank in respect of a matter, but anything done under one Act counts towards compliance with the other Act.

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