Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

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

103: Bank may require report to be published

You could also call this:

"The Bank can ask a company to make its report public."

Illustration for Deposit Takers Act 2023

The Bank can tell a deposit taker to publish a report that they have made under section 101. You will know why the Bank wants this report published because they have to say so in the notice. The deposit taker has to do what the notice says within a certain time and in a certain way that the Bank specifies.

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 It might be out of date or be missing some parts.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=LMS495818.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
Previous

102: Associated person must supply information, or

"Tell a deposit taker about yourself if they ask, so they can follow the rules."

Next

104: Offence to fail to give or publish report, or

"Breaking the rules about giving reports can lead to a big fine."

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

103Bank may require report to be published

  1. The Bank may, by notice to a licensed deposit taker, require the deposit taker to publish a report or series of reports under section 101 (whether in whole or in part).

  2. The notice must contain a statement of the reasons why the Bank wants the report or series of reports to be published.

  3. The licensed deposit taker must comply with the notice within the period, and otherwise in the manner, that is specified in the notice.