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 the advertising rules can lead to a big fine."

Illustration for Deposit Takers Act 2023

You commit an offence if you break the advertising limit rule in section 434. If you are an individual, you can get a fine of up to $50,000. If you are not an individual, you can get a fine of 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 It might be out of date or be missing some parts.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.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS542613.

This page was last updated on — View changes

Topics:
Money and consumer rights > Consumer protection
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 ask you to change your name or title if you break a rule"

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