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Deposit Takers Act 2023

Supervision of deposit takers - Access to information by overseas supervisor

140: Authorisation may relate to particular customer or client

You could also call this:

"Supervisors can get info about a specific bank customer"

Illustration for Deposit Takers Act 2023

When someone is allowed to supervise a deposit taker, they can get information about a specific customer or client of the deposit taker. This information is part of what the supervisor is authorised to obtain. You can think of a deposit taker as a bank or another business that looks after people's money, and the supervisor makes sure they are doing their job properly.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS496277.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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139: Bank must give notice of authorisation, or

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

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141: Restriction on authorisation, or

"The Bank can only give permission if it knows secrets will be kept safe."

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

140Authorisation may relate to particular customer or client

  1. The information that an overseas supervisor may be authorised to obtain under this subpart may include, without limitation, information about the affairs of a particular customer or client of the licensed deposit taker.