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Deposit Takers Act 2023

Supervision of deposit takers - Investigations

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

You could also call this:

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

Illustration for Deposit Takers Act 2023

If you are investigating someone's affairs, you can enter and search a place, vehicle, or thing. You can do this if the person in charge says it's okay, or if you get a special permit called a warrant. You can get a warrant if you can show there are good reasons to believe the person has done something wrong or might do something wrong with their money. The rules for getting a warrant are in the Search and Surveillance Act 2012, and most of these rules apply when you are investigating someone's affairs.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS492638.

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Crime and justice > Police and safetyMoney and consumer rights > Banking and loansBusiness > Industry rules
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127: Power to obtain information, or

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

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129: Offences in relation to investigations, or

"Breaking the rules during an investigation can lead to a big fine"

Part 4Supervision of deposit takers
Investigations

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

  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), enter and search any place, vehicle, or other thing if—

  2. the occupier of the place consents or the person in charge of the vehicle or thing consents; or
    1. the investigator obtains a warrant under this section.

      1. An issuing officer (within the meaning of section 3 of the Search and Surveillance Act 2012) who, on an application made by an investigator in the manner provided in subpart 3 of Part 4 of that Act, is satisfied that there are reasonable grounds for believing that 1 or more of the following apply may issue a warrant to the investigator:

      2. A has contravened, is contravening, or is likely to contravene a prudential obligation:
        1. it is necessary or desirable for the purpose of determining whether to exercise any powers conferred on the Bank under this Act that an investigation of the affairs of A should be carried out.

          1. The provisions of Part 4 of the Search and Surveillance Act 2012 (except for sections 118 and 119) apply.