Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

Miscellaneous - Use of words bank, banker, and banking - Limit on use of restricted words in advertisement

435: Offence to contravene advertising limit

You could also call this:

"Breaking advertising rules can get you a big fine"

Illustration for Deposit Takers Act 2023

If you are a specified person and you break the rules in section 434, you commit an offence. You can get a fine if you are found guilty. If you are an individual, the fine can be up to $50,000. 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 It might be out of date or be missing some parts.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=LMS542613.

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

434: Limit on use of restricted words in advertisement, or

"Rules for using certain words when advertising financial services"

Next

436: Power to require change of name, etc, or

"The Bank can make you change your name or how you advertise if you break the rules."

Part 8Miscellaneous
Use of words bank, banker, and banking: Limit on use of restricted words in advertisement

435Offence to contravene advertising limit

  1. A specified person that contravenes section 434 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.

      Compare