Deposit Takers Act 2023

Crisis management and resolution - Bank may give directions, approve sales, and replace directors - Disclosure of direction or notice

272: Prohibition on disclosing or publishing direction or notice

You could also call this:

"Keep directions and notices from the Bank secret, unless they say you can share"

Illustration for Deposit Takers Act 2023

You must not tell others or make public that a direction or notice has been given under this part of the law or under section 271. This rule does not apply if you are telling a director, senior manager, or adviser of the deposit taker, or if you have the Bank's written consent. The Bank's consent is needed for certain disclosures, and they must consider how much time has passed since the direction or notice was given.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS529209.

This page was last updated on 9 February 2026 — View changes

Topics:

Money and consumer rights > Banking and loansRights and equality > Privacy

271: How Bank exercises power to remove, replace, or appoint director, or

"How the Bank removes, replaces, or appoints a director of a company."

273: Offence to contravene prohibition, or

"Breaking the rules can lead to a big fine"

Part 7Crisis management and resolution
Bank may give directions, approve sales, and replace directors: Disclosure of direction or notice

272Prohibition on disclosing or publishing direction or notice

A person must not disclose or publish the fact that a direction has been given under this subpart or that a notice has been given under section 271.
Subsection (1) does not apply to the disclosure or publication of the fact that a direction or notice has been given if the disclosure or publication is made—
to any director, senior manager, or professional or financial adviser of the licensed deposit taker, or associated person of a licensed deposit taker, to which the direction or notice relates; or
with the written consent of the Bank, for the purposes of the sale or other disposition, or the possible sale or other disposition, of the whole or any part of the capital, or business undertaking, of the licensed deposit taker or associated person of a licensed deposit taker; or
by, or on behalf of, the Bank, or with the written consent of the Bank,—
1. to the public or any class of the public; or
2. to any person who has a proper interest in knowing that the direction or notice has been given.

For the purposes of subsection (2)(b) and (c),—
the Bank’s consent must not be unreasonably withheld; and
in considering whether to give its consent, the Bank must take into account the time that has elapsed since the direction or notice was given.

Subsection (1) does not apply to the disclosure or publication of the fact that a direction has been given under section 267(1)(d) if the disclosure or publication is for the purpose of giving effect to the direction.
Subsection (1) does not apply to the disclosure or publication of the fact that the Bank has directed a matter in section 80(4)(a), (b), (c), or (d) to occur (which relates to bail-in).

Compare

2010 No 111 s 150(1)–(4)