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New Zealand law explained for everyone

Deposit Takers Act 2023

Supervision of deposit takers - On-site inspection

113: Person may be required to answer questions or give information

You could also call this:

"Bank can ask you questions about your workplace to check everything is okay"

Illustration for Deposit Takers Act 2023

If you work for a company that looks after people's money, you might be asked questions by the Bank during a visit. The Bank can ask you to answer questions about the company's records and documents. You might also be asked to give other information that the Bank needs to check everything is okay.

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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=LMS475338.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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112: Bank may conduct on-site inspection, or

"The Bank can visit a business to check they're following the rules."

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114: Offence relating to on-site inspection, or

"Breaking the law by not helping with on-site inspections at banks and other deposit takers"

Part 4Supervision of deposit takers
On-site inspection

113Person may be required to answer questions or give information

  1. During an on-site inspection, the Bank may require any employee, director, or agent of the licensed deposit taker to—

  2. answer questions relating to its records and documents; and
    1. give all other information that the Bank may reasonably require for the purpose of the inspection.