Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

Miscellaneous - Bank’s power to specify how things are done

451: Requirements that may be specified

You could also call this:

"Rules you must follow when you get a notice"

Illustration for Deposit Takers Act 2023

When you get a notice under section 449 or 450, it may tell you some specific things. It can say who must do something, when they must do it, where they must do it, and how they must do it. It can also say what form you must use when you do the thing.

The notice can tell you what information or documents you must give when you do the thing. It can also say what rules the information, documents, or evidence you give must follow. You must follow these rules when you give the information or documents.

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 It might be out of date or be missing some parts.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=LMS582751.

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

450: Bank may require class of persons to comply with requirements, or

"The Bank can make rules for certain groups of people to follow."

Next

452: Bank may also require further information, or

"The bank can ask for more information if they need it."

Part 8Miscellaneous
Bank’s power to specify how things are done

451Requirements that may be specified

  1. A notice under section 449 or 450 may specify 1 or more of the following:

  2. by whom, when, where, and how the thing must be done:
    1. the form that must be used in connection with doing the thing:
      1. what information or other evidence or documents must be provided in connection with the thing:
        1. requirements with which information, evidence, or documents that are provided in connection with the thing must comply.