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Reserve Bank of New Zealand Act 2021

Miscellaneous provisions - Information-gathering power - Bank’s information-gathering power

262: Bank may require relevant person to supply information for central banking and financial system oversight functions

You could also call this:

"The Bank can ask for information to help them with their job."

Illustration for Reserve Bank of New Zealand Act 2021

The Bank can ask you to give them information if they think it's necessary for their work. They can ask you in writing to give them specific information. You have to give them the information in the way and time they say. The Bank can ask for information about services you provide in New Zealand or elsewhere. They can ask for information about how you provide these services, like if you're the main person or just helping. You have to give the Bank the information they ask for, in the time and way they say, as stated in section 10(1)(a), (c), or (d) or Part 3. The Bank will tell you what information they need and when they need it. You have to follow their instructions and give them the information they ask for.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287198.

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Money and consumer rights > Banking and loansBusiness > Industry rules
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Part 6Miscellaneous provisions
Information-gathering power: Bank’s information-gathering power

262Bank may require relevant person to supply information for central banking and financial system oversight functions

  1. If the Bank considers it necessary or desirable for the purposes of performing or exercising its functions or powers under section 10(1)(a), (c), or (d) or Part 3, the Bank may, by written notice to a relevant person, require the person to supply to the Bank any information, or class of information, that is specified in the notice.

  2. The information must be supplied—

  3. for the periods, and in the manner and form (including consolidated form), that may be specified in the notice; and
    1. in respect of a provider of a relevant service; and
      1. in respect of relevant services provided in New Zealand or elsewhere and whether as principal, broker, agent, or intermediary; and
        1. within the period, and otherwise in the manner, that is specified in the notice.

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