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Reserve Bank of New Zealand Act 2021

Miscellaneous provisions - Regulations

292: Regulations relating to fees, charges, and costs

You could also call this:

"Rules about paying fees and charges to the Reserve Bank of New Zealand"

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The Governor-General can make rules about fees and charges for the Reserve Bank of New Zealand. You will have to pay fees and charges when the Bank does something for you under this Act or other laws. The Bank can also ask you to pay for costs they incur when doing something for you. The Minister must talk to the Bank before making any recommendations about these rules. The rules can say that the Bank can give you a refund or not charge you a fee in some cases. If the Bank gives a refund or waiver to a group of people, they must follow certain rules, which you can find in Part 3 of the Legislation Act 2019. The Bank can refuse to do something for you until you pay the required fee or charge. If you do not pay, the Bank can take you to court to get the money. These rules are called secondary legislation, which is explained in Part 3 of the Legislation Act 2019.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287358.

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Part 6Miscellaneous provisions
Regulations

292Regulations relating to fees, charges, and costs

  1. The Governor-General may, by Order in Council, on the recommendation of the Minister, make regulations for all or any of the following purposes:

  2. requiring the payment to the Bank of fees and charges—
    1. in connection with the performance or exercise by the Bank of any function, power, or duty under this Act, the prudential legislation, or any other legislation:
      1. on an application or a request to the Bank to perform or exercise any function, power, or duty under this Act, the prudential legislation, or any other legislation:
      2. prescribing the amounts of those fees and charges or the manner in which those fees and charges are to be calculated:
        1. authorising the Bank to require payment of any costs incurred by the Bank in connection with any matter referred to in paragraph (a)(i) or (ii).

          1. The Minister must consult the Bank before making a recommendation under this section.

          2. The regulations may authorise the Bank to refund or waive, in whole or in part and on any conditions as may be prescribed, payment of any fee, charge, or cost payable in relation to any person or class of persons.

          3. If the regulations authorise the Bank to grant a refund or waiver to a class of persons,—

          4. the instrument granting the refund or waiver is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements); and
            1. the regulations must contain a statement to that effect.

              1. The Bank may refuse to perform or exercise a function, power, or duty until the prescribed fee, charge, or cost is paid.

              2. Any fee, charge, or cost payable to the Bank is recoverable by the Bank in any court of competent jurisdiction as a debt due to the Bank.

              3. Regulations made under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

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              Notes