Deposit Takers Act 2023

Supervision of deposit takers - Access to information by overseas supervisor

138: Access to information by overseas supervisor

You could also call this:

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

Illustration for Deposit Takers Act 2023

The Bank can let an overseas supervisor inspect a deposit taker in New Zealand. You can think of a deposit taker like a bank where people keep their money. The Bank can also let the overseas supervisor ask a deposit taker for information. The Bank decides how long the overseas supervisor can have this access. The Bank can change or cancel this access at any time, and this rule applies even if other laws say something different.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS496790.


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

138Access to information by overseas supervisor

  1. For the purpose of an overseas supervisor’s performance or exercise of its supervisory functions, powers, or duties, the Bank may authorise the overseas supervisor to do either or both of the following:

  2. conduct an on-site inspection of a licensed deposit taker:
    1. require any licensed deposit taker to give to the overseas supervisor any information relating to that person.
      1. An authorisation may be—

      2. granted for the period or periods that the Bank thinks fit; and
        1. varied, revoked, or amended by the Bank.
          1. This subpart has effect despite anything to the contrary in any other legislation or rule of law.