If you refuse or fail to comply with a notice under section 99 without a reasonable excuse, you commit an offence. You must have a good reason for not following the notice. If you do not comply, you can get in trouble with the law. You can be fined if you commit this offence. The fine amount depends on who you are. If you are an individual, your fine can be up to $50,000, but if you are not an individual, your fine can be up to $500,000.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS538446.
99: Bank may require person to supply information for purposes of Act, or
"The Bank can ask you for information to help them do their job."
101: Bank may require report relating to licensed deposit taker or associated person, or
"The Bank can ask deposit takers for a report about their business or the people they work with."
A person commits an offence if they refuse or fail, without reasonable excuse, to comply with a notice under section 99.
A person who commits an offence against subsection (1) is liable on conviction to,—
