Deposit Takers Act 2023

Enforcement - Power to accept undertakings

151: Undertakings that include payment of money

You could also call this:

"Paying money as part of a promise to the law"

Illustration for Deposit Takers Act 2023

If you make an undertaking that includes paying money, you must pay that amount into a Crown Bank Account. You need to pay the full amount, minus the Bank's costs for handling the matter. The Bank will then put a notice on their website, which includes how much you paid and a brief description of what you allegedly did wrong.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS497392.


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Part 5Enforcement
Power to accept undertakings

151Undertakings that include payment of money

  1. If the undertaking includes the payment of an amount in lieu of a pecuniary penalty,—

  2. the amount must be paid into a Crown Bank Account (after deducting the Bank’s costs incurred in connection with the matter); and
    1. the Bank must give notice of the payment on the Bank’s Internet site, including—
      1. a statement of the amount to be paid; and
        1. a brief description of the alleged contravention to which the undertaking relates.