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Deposit Takers Act 2023

Enforcement - Pecuniary penalty - Relationship between proceedings and orders

165: Only 1 pecuniary penalty order may be made for same conduct

You could also call this:

"You can't get more than one penalty for the same mistake"

Illustration for Deposit Takers Act 2023

If you do something wrong that breaks more than one rule, you can be taken to court for breaking one or more of those rules. You can only get one penalty order for the same wrongdoing, even if you broke multiple rules. This means you will not get more than one pecuniary penalty order for doing the same thing wrong.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS475614.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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164: Limitation, or

"You have 3 years to take action after finding out about a problem, or up to 10 years after it happened."

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166: No pecuniary penalty and criminal penalty for same conduct, or

"You won't be punished twice for the same mistake."

Part 5Enforcement
Pecuniary penalty: Relationship between proceedings and orders

165Only 1 pecuniary penalty order may be made for same conduct

  1. If conduct by a person constitutes a contravention, or involvement in the contravention, of 2 or more obligations, proceedings may be brought against that person for the contravention, or involvement in the contravention, of any 1 or more of the obligations, but no person is liable to more than 1 pecuniary penalty order for the same conduct.