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Deposit Takers Act 2023

Enforcement - Pecuniary penalty - Bank’s costs

162: Court must order that recovery from pecuniary penalty be applied to Bank’s actual costs

You could also call this:

"Court decides how penalty money is used to pay Bank's court costs first"

Illustration for Deposit Takers Act 2023

If you go to court and the judge says you have to pay a pecuniary penalty, the court will also say how the penalty money is used. The court must order that the penalty money is used first to pay the Bank's actual costs for going to court. This means the Bank gets its costs paid back from the penalty money before anything else happens.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS475607.

Topics:
Crime and justice > Courts and legal helpMoney and consumer rights > Banking and loans
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161: Defence for person that is involved in contravention, or

"When you're involved in breaking a rule, you can explain why it's not your fault"

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163: Rules of civil procedure and civil standard of proof apply, or

"Same rules apply as other civil court cases"

Part 5Enforcement
Pecuniary penalty: Bank’s costs

162Court must order that recovery from pecuniary penalty be applied to Bank’s actual costs

  1. If the court orders a person to pay a pecuniary penalty, the court must also order that the penalty must be applied first to pay the Bank’s actual costs in bringing the proceedings.