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New Zealand law explained for everyone

Deposit Takers Act 2023

Enforcement - False or misleading declarations, representations, and other information

175: False or misleading declarations, representations, or other information

You could also call this:

"Telling lies or giving false information to the Bank or investigators is against the law"

Illustration for Deposit Takers Act 2023

If you make a false or misleading declaration to the Bank or an investigator, you commit an offence. This happens when you know, or don't care, that what you're saying is false or misleading. You can do this by talking or writing, and it's still an offence either way.

If you give false or misleading information, or a fake document, to the Bank or an investigator, you also commit an offence. This applies whether you're doing it for yourself or someone else.

If you're found guilty, you could face imprisonment or a fine, depending on who you are. As an individual, you could get up to one year in prison or a fine of up to $100,000, or both. If you're not an individual, you could get a fine of up to $2,500,000.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS472216.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesCrime and justice > Criminal law
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Part 5Enforcement
False or misleading declarations, representations, and other information

175False or misleading declarations, representations, or other information

  1. A person (A) commits an offence if, for any purpose relating to this Act,—

  2. A makes a declaration or representation to the Bank or an investigator and A knows that, or is reckless as to whether, the declaration or representation is false or misleading in any material particular; or
    1. A gives to the Bank or an investigator any information and A knows that, or is reckless as to whether, the information is false or misleading in any material particular; or
      1. A gives to the Bank or an investigator a document that is not genuine and A knows that, or is reckless as to whether, the document is not genuine; or
        1. A otherwise publishes or makes available any information and A knows that, or is reckless as to whether, the information is false or misleading in any material particular.

          1. Subsection (1) applies whether A acts on A's own behalf or on behalf of any other person.

          2. Subsection (1)(a) applies whether A makes the declaration or representation orally or in writing.

          3. A person that commits an offence against this section is liable on conviction,—

          4. in the case of an individual, to imprisonment for a term not exceeding 1 year or to a fine not exceeding $100,000 (or both):
            1. in any other case, to a fine not exceeding $2,500,000.