Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

Miscellaneous - Bank’s power to specify how things are done

448: When subpart applies

You could also call this:

"When you must follow the Bank's rules to do something under the Deposit Takers Act 2023."

Illustration for Deposit Takers Act 2023

This subpart applies to you if the Deposit Takers Act 2023 says something must be done in a certain way as specified by the Bank. The Bank might specify the manner in a notice they give. You have to follow the Bank's rules when doing something, like applying for a licence or giving information under section 99. In this subpart, a relevant person is someone who has to do something or is allowed to do it. The Bank's rules can be found in notices they give or issue, and you must follow them when you are doing something the Act says you must or may do.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS497941.

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
Previous

447: Offence for unauthorised disclosure or use, or

"Breaking the rule about keeping secrets can get you in big trouble"

Next

449: Bank may require particular persons to comply with specified requirements, or

"The Bank can ask certain people to follow specific rules."

Part 8Miscellaneous
Bank’s power to specify how things are done

448When subpart applies

  1. This subpart applies if this Act provides for any thing to be done in the manner specified by the Bank (including where the manner is specified in a notice given by the Bank).

    Examples

    An application for a licence must be made in the manner specified by the Bank.

    The Bank may require information to be given under section 99 in a manner specified in a notice given or issued by the Bank.

  2. In this subpart, a relevant person is a person who must or may do the thing.