Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

Miscellaneous - Use of words bank, banker, and banking - Limit on use of restricted words in name or title

427: When restriction does not apply

You could also call this:

"When you are allowed to use certain words in a name or title without getting in trouble"

Illustration for Deposit Takers Act 2023

The rule about not using certain words in a name or title does not apply to the Bank. It also does not apply to someone the Bank has given permission to use those words, as long as they are following the rules of that permission. You can find more information about this permission in section 428 or section 429.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS471074.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
Previous

426: Offence to contravene limit on use of restricted words, or

"Breaking rules about using certain words can get you a big fine."

Next

428: Bank may authorise particular persons to use restricted words in name or title, or

"Bank can let some people use special words in their name"

Part 8Miscellaneous
Use of words bank, banker, and banking: Limit on use of restricted words in name or title

427When restriction does not apply

  1. Section 425 does not apply to—

  2. the Bank; or
    1. a person who is authorised by the Bank under section 428 or 429 to use a name or title that includes a restricted word (but only to the extent that the person is acting within the scope of the authorisation).

      Compare