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Deposit Takers Act 2023

Supervision of deposit takers - Access to information by overseas supervisor

139: Bank must give notice of authorisation

You could also call this:

"The Bank must tell deposit takers when it gives or changes their permission to do something."

Illustration for Deposit Takers Act 2023

When the Bank makes a decision about a licensed deposit taker, you need to know what happens next. The Bank must tell the deposit taker if it gives them permission to do something, which is called an authorisation. The Bank also has to tell the deposit taker if it changes, cancels, or updates this permission.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS496275.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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138: Access to information by overseas supervisor, or

"Overseas supervisors can access New Zealand bank information with the Bank's permission"

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140: Authorisation may relate to particular customer or client, or

"Supervisors can get info about a specific bank customer"

Part 4Supervision of deposit takers
Access to information by overseas supervisor

139Bank must give notice of authorisation

  1. The Bank must give notice to a licensed deposit taker if the Bank—

  2. grants an authorisation in relation to that person; or
    1. varies, revokes, or amends that authorisation.