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Deposit Takers Act 2023

Supervision of deposit takers - Bank’s information-gathering power

109: Protection of auditor

You could also call this:

"Auditors are safe when they honestly report concerns to the Bank."

Illustration for Deposit Takers Act 2023

If you are an auditor, you are protected when you tell the Bank something in good faith under section 107. You cannot be taken to court or punished for sharing this information. You are also safe from any professional groups that oversee auditors, they cannot take action against you for sharing this information either.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS475529.

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Money and consumer rights > Banking and loansBusiness > Industry rules
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108: Auditor to inform of intention to disclose, or

"Auditors must tell banks and others before sharing important information with the Bank."

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110: Admissibility of information, or

"What information can be used in court from the Bank"

Part 4Supervision of deposit takers
Bank’s information-gathering power

109Protection of auditor

  1. No civil, criminal, or disciplinary proceedings lie against an auditor arising from the disclosure in good faith of information to the Bank under section 107.

  2. No tribunal, body, or authority having jurisdiction in respect of the professional conduct of an auditor may make any order against, or do any act in relation to, the auditor in respect of the disclosure referred to in subsection (1).