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Reserve Bank of New Zealand Act 2021

Miscellaneous provisions - Regulations

293: Regulated entities must pay levy to Bank

You could also call this:

"Groups the Bank watches must pay a fee"

Illustration for Reserve Bank of New Zealand Act 2021

You must pay a levy to the Bank if you are in a group of regulated entities. The levy is set by regulations made under section 294. You pay the levy to the Bank or to someone the Bank says you can pay. You might be in more than one group of regulated entities. If this happens, you pay each levy unless the regulations say otherwise. The Bank can take you to court to get any unpaid levy. If you do not pay your levy, the Bank can take you to court to get the money. The court can make you pay the levy as if it were a debt you owe the Bank.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS297954.

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Money and consumer rights > Banking and loansBusiness > Industry rules
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292: Regulations relating to fees, charges, and costs, or

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

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294: Levy regulations, or

"Rules about charging levies to help pay for the Reserve Bank's work"

Part 6Miscellaneous provisions
Regulations

293Regulated entities must pay levy to Bank

  1. Every person that is included in a prescribed class of regulated entities must pay to the Bank, or a prescribed person on behalf of the Bank, a levy prescribed by the regulations made under section 294.

  2. If a person is in 2 or more classes of regulated entity in respect of which different levies have been prescribed, the person must pay each of those levies (unless the regulations provide otherwise).

  3. The amount of any unpaid levy is recoverable in any court of competent jurisdiction as a debt due to the Bank.

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