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Deposit Takers Act 2023

Miscellaneous - Use of words bank, banker, and banking - Limit on use of restricted words in name or title

426: Offence to contravene limit on use of restricted words

You could also call this:

"Breaking rules about using certain words is against the law"

Illustration for Deposit Takers Act 2023

You commit an offence if you break the rules about using restricted words. If you are an individual, you may get a fine of up to $100,000. You can check section 425 to see what the rules are.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS538498.

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Business > Industry rules
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Part 8Miscellaneous
Use of words bank, banker, and banking: Limit on use of restricted words in name or title

426Offence to contravene limit on use of restricted words

  1. A financial service provider that contravenes section 425 commits an offence and is liable on conviction,—

  2. in the case of an individual, to a fine not exceeding $100,000:
    1. in any other case, to a fine not exceeding $2,500,000.

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