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Reserve Bank of New Zealand Act 2021

Miscellaneous provisions - Information sharing

282: Sharing of information with certain law enforcement or regulatory agencies

You could also call this:

"The Reserve Bank can share information with police or organisations that keep our financial system safe."

Illustration for Reserve Bank of New Zealand Act 2021

The Reserve Bank of New Zealand can share information with certain law enforcement or regulatory agencies. You can think of these agencies like the police or organisations that help keep our financial system safe. The Bank can share information it holds about its work under this Act or other laws. The Bank can share this information if it thinks it will help these agencies do their job, or help the government make good decisions. The Bank can share information with agencies in New Zealand, or with overseas agencies like central banks or financial authorities, such as those prescribed under section 68A of the Banking (Prudential Supervision) Act 1989, or with Australian financial authorities. The Bank can also share information with overseas agencies, but only if it is sure that the information will be kept confidential, especially if it is personal information as defined in the Privacy Act 2020. The Bank can use any information it gets from these agencies to help it do its job. This means the Bank can share information even if there is a contract or document that says it cannot. This rule does not stop the Bank from sharing information in other situations allowed by law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS320946.

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Topics:
Money and consumer rights > Banking and loansCrime and justice > Police and safetyRights and equality > Privacy
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281: Reminder notices, or

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283: Conditions that may be imposed on providing information under this subpart, or

"Rules for sharing information from the Reserve Bank"

Part 6Miscellaneous provisions
Information sharing

282Sharing of information with certain law enforcement or regulatory agencies

  1. The Bank may provide to a person or an agency specified in subsection (2) any information that the Bank—

  2. holds in relation to the performance or exercise of the Bank’s functions or powers under this Act or any other legislation; and
    1. considers may—
      1. assist the person or agency to perform or exercise the person’s functions or powers under any legislation; or
        1. assist any department, a chief executive of a department, or a Minister to perform or exercise any of their functions, responsibilities, or powers (whether or not under any legislation); or
          1. assist the agency (or a Minister) to administer any legislation; or
            1. assist an overseas person or agency to perform or exercise the overseas person’s or agency’s functions, responsibilities, or powers (whether or not under foreign law); or
              1. assist an overseas person or agency (or an overseas Minister) to administer any foreign law.

              2. The persons or agencies are any of the following:

              3. a law enforcement or regulatory agency:
                1. overseas central banks:
                  1. Australian financial authorities prescribed under section 68A of the Banking (Prudential Supervision) Act 1989:
                    1. other overseas bodies that perform functions that correspond with, or are similar to, any of those conferred on the Bank.

                      1. However, the Bank may provide information to an overseas person or agency under this section only if the Bank is satisfied that appropriate protections are or will be in place for the purpose of maintaining the confidentiality of anything provided (in particular, information that is personal information within the meaning of the Privacy Act 2020).

                      2. The Bank may use any information provided to it by any person or agency referred to in subsection (2) in the Bank's performance or exercise of its functions or powers under this Act or any other legislation.

                      3. This section applies despite anything to the contrary in any contract, deed, or document.

                      4. This section does not limit any provision of this Act or any other legislation that allows the Bank to use or disclose information.