The Bank can only give permission, called an authorisation, if it thinks the secrecy of the information will be protected. You need to know that this information is being shared with an overseas supervisor. The Bank must be satisfied that there are enough rules in place to keep the information confidential before it grants the authorisation.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS496276.
The Bank may grant an authorisation only if it is satisfied that sufficient provision exists to protect the confidentiality of the information obtained or required by the overseas supervisor.
