Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

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

452: Bank may also require further information

You could also call this:

"The bank can ask for more information if they need it."

Illustration for Deposit Takers Act 2023

When you are dealing with the Bank, you must give them the information they need to do their job. The Bank needs this information to perform their functions, powers, or duties properly. You have to provide extra details, like supporting an application or request, if the Bank asks for them.

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 It might be out of date or be missing some parts.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=LMS498729.

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

451: Requirements that may be specified, or

"Rules you must follow when you get a notice"

Next

453: Bank may refuse to act if requirements not complied with, or

"The Bank can say no if you don't follow the rules."

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

452Bank may also require further information

  1. A relevant person must also provide to the Bank the information that is required by the Bank to assist the Bank in performing or exercising its functions, powers, or duties in relation to the thing (for example, to supply further information in support of an application or request).