Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

Crisis management and resolution - Conduct of resolution - Offences

346: Offence to destroy, alter, or conceal records

You could also call this:

"It's against the law to deliberately hide or change information about a bank"

Illustration for Deposit Takers Act 2023

You commit an offence if you destroy, alter, or conceal information about a licensed deposit taker on purpose. You also commit an offence if you do not answer questions about this information or give false answers. This can happen when the Bank or resolution manager asks you questions. You can get in trouble if you do these things. If you are an individual, you might go to prison for up to one year or get a fine of up to $100,000. You might get both prison time and a fine. If someone is charged with an offence and it is proven they destroyed information, it is assumed they did it on purpose. This is unless they can prove otherwise. You can look at the 1989 No 157 s 151 for more information.

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 It might be out of date or be missing some parts.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

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS536611.

This page was last updated on — View changes

Topics:
Money and consumer rights > Banking and loansCrime and justice > Criminal law
Previous

345: Offence to remove property, or

"Don't take a deposit taker's property out of NZ without permission"

Next

347: Expenses of resolution, or

"Paying costs to fix problems with deposit takers"

Part 7Crisis management and resolution
Conduct of resolution: Offences

346Offence to destroy, alter, or conceal records

  1. A person commits an offence against this Act if,—

  2. with intent to defeat the purposes of this Part, they destroy, alter, or conceal any information of, or relating to, a licensed deposit taker in resolution; or
    1. without reasonable excuse, they fail or refuse to answer, to the best of their knowledge and ability, any question that they are asked by or on behalf of the Bank or the resolution manager in relation to any such information or any property; or
      1. they wilfully give a false or misleading answer to that question.

        1. A person who commits an offence under subsection (1) is liable on conviction,—

        2. in the case of an individual, to imprisonment for a term not exceeding 1 year or to a fine not exceeding $100,000 (or both):
          1. in any other case, to a fine not exceeding $2,500,000.

            1. If, in any prosecution for an offence under this section, it is proved that the person charged with the offence destroyed, altered, or concealed any information of the kind referred to in subsection (1), it must be presumed, in the absence of evidence to the contrary, that the person did so with intent to defeat the purposes of this Part.

            Compare