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Deposit Takers Act 2023

Supervision of deposit takers - Investigations

127: Power to obtain information

You could also call this:

"Investigators can ask for information and documents from companies and people to help with their enquiries"

Illustration for Deposit Takers Act 2023

When someone is investigating a company, they can ask you for information. You might be the company, a director, an employee, or someone else who knows about the company. The investigator can ask you to give them information about the company's business.

The investigator can also ask you to show them documents about the company. They can ask you to make copies of these documents if they need to. If the documents have information that is hard to read, the investigator can ask you to help make it clearer.

If the investigator wants to ask you questions, you have to answer them. The investigator or their lawyer can ask you these questions. They might ask you to promise to tell the truth before you answer their questions.

If someone is investigating and asks you for information, they have to show you their ID if you ask for it. This ID is like a badge that shows they are allowed to be investigating.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

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=LMS492636.

Topics:
Business > Industry rulesMoney and consumer rights > Banking and loans
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126: Bank may appoint investigator, or

"The Bank can choose someone to investigate if a deposit taker breaks the rules."

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128: Power to enter and search place, vehicle, or other thing, or

"Authorities can search a place, vehicle, or thing if they have permission or a warrant."

Part 4Supervision of deposit takers
Investigations

127Power to obtain information

  1. An investigator may, for the purposes of carrying out an investigation of the affairs of a person (A) referred to in section 126(1), do 1 or more of the following:

  2. by notice, require A, or any director or employee of A, or any other person, to—
    1. give any information, or class of information, relating to the business, operation, or management of A; or
      1. produce for inspection any documents, or class of documents, of or relating to the business, operation, or management of A that are in the custody or under the control of A or the director, employee, or other person; or
        1. if necessary, reproduce, or assist in reproducing, in usable form, any information recorded or stored in those documents:
        2. take copies of any documents produced for inspection under paragraph (a):
          1. require any director or employee of A, or any other person, to answer any question relating to the business, operation, or management of A.

            1. Any questioning under subsection (1)(c) may be carried out by the investigator, or a lawyer acting on behalf of the investigator, who may require the person who is subject to the questioning to take an oath or make an affirmation.

            2. An investigator who exercises any powers under this section must, if requested, produce the instrument of the investigator's appointment.