Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

Supervision of deposit takers - Bank’s information-gathering power

104: Offence to fail to give or publish report

You could also call this:

"Breaking the rules about giving reports can lead to a big fine."

Illustration for Deposit Takers Act 2023

If you are a licensed deposit taker or an associated person, you must follow the rules. You can find these rules in sections 101 to 103. If you do not follow these rules without a good reason, you commit an offence. You can be fined if you commit this offence. If you are an individual, the fine can be up to $50,000, but if you are not an individual, the fine can be up to $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 It might be out of date or be missing some parts.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=LMS538451.

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

103: Bank may require report to be published, or

"The Bank can ask a company to make its report public."

Next

105: Requirement that information be audited or reviewed, or

"The Bank can ask you to check some information you give them to make sure it's correct."

Part 4Supervision of deposit takers
Bank’s information-gathering power

104Offence to fail to give or publish report

  1. A licensed deposit taker or an associated person that, without reasonable excuse, contravenes a requirement under any of sections 101 to 103 commits an offence and is liable on conviction to,—

  2. in the case of an individual, a fine not exceeding $50,000:
    1. in any other case, a fine not exceeding $500,000.