If you break a condition of approval that was imposed under section 50, you commit an offence. You can be fined if you are found guilty. The amount you can be fined depends on who you are. If you are an individual, you can be fined up to $100,000. If you are not an individual, you can be fined up to $2,500,000.
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 It might be out of date or be missing some parts.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=LMS538439.
50: Bank's decision on approval, or
"The bank decides whether to approve a request and tells you their decision within 20 working days."
52: Requirement for approval is in addition to other requirements, or
"You must follow all the rules, not just the ones in this law, when making changes that need approval."
A person that contravenes a condition of approval imposed under section 50 commits an offence and is liable on conviction,—
