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Reserve Bank of New Zealand Act 2021

Operation of Reserve Bank - Power to request information from Bank

199: Good reasons for refusing to supply requested information

You could also call this:

"When the Bank can say no to giving out information"

Illustration for Reserve Bank of New Zealand Act 2021

You can be refused information if it would hurt someone's privacy. The Bank can also refuse if giving the information would stop them from doing their job properly. The Bank must have a good reason to refuse the information. You can only be refused information if the reason is more important than the Minister's need for the information. The information cannot be withheld for any other reason, and it must follow the rules of the Official Information Act 1982. If the Bank withholds information, they must tell the Minister in writing why they are doing so. The Bank cannot use certain rules, like section 269, to withhold the 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=LMS287219.

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Money and consumer rights > Banking and loansRights and equality > PrivacyGovernment and voting > Government departments
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Part 4Operation of Reserve Bank
Power to request information from Bank

199Good reasons for refusing to supply requested information

  1. A request for information under any of sections 196, 197, and 198 may be refused if—

  2. the withholding of the information is necessary to protect the privacy of a person (whether or not a natural person or a deceased person); or
    1. the supply of the information would materially limit the ability of the Bank to perform its functions in relation to a particular matter.

      1. The reason in subsection (1)(a) or (b) applies only if it is not outweighed by the relevant Minister’s need to have the information in order to discharge the relevant Minister’s ministerial duties.

      2. The information cannot be withheld other than for the reasons in subsection (1), and cannot be withheld at all if it could not properly be withheld under the Official Information Act 1982.

      3. In particular, the information cannot be withheld under section 269 (or any other provision in the prudential legislation that restricts the publication or disclosure of any information).

      4. If the Bank withholds information for a reason in subsection (1), the Bank must give to the relevant Minister a written statement that explains why the information is being withheld.

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