Plain language law

New Zealand law explained for everyone

Deposit Takers Act 2023

Repeals and amendments to other Acts - Amendments to Reserve Bank of New Zealand Act 2021

483: New section 190A and cross-heading inserted

You could also call this:

"New law protects banks when they give warnings or reports as part of their job"

Illustration for Deposit Takers Act 2023

When you look at the law about banks, you will see a new part added. This new part is about something called qualified privilege protection. It says that when the Bank gives warnings, reports, guidelines, or comments as part of its job, these are protected.

You can find more information about this in the Defamation Act 1992, which is a law that talks about protecting people's reputations. The Bank's warnings, reports, guidelines, or comments are treated like official reports made by someone who is doing an inquiry for the New Zealand Parliament. This means that the Bank has some protection when it gives these warnings, reports, guidelines, or comments as part of its job.

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 It might be out of date or be missing some parts.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=LMS584123.

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

482: Section 189 amended (Crown indemnities in relation to statutory management), or

"Changes to the rules about who helps when a deposit taker is in trouble"

Next

484: Section 240 amended (Form and content of annual report), or

"Annual reports now include more financial details and checks to ensure the information is correct."

Part 9Repeals and amendments to other Acts
Amendments to Reserve Bank of New Zealand Act 2021

483New section 190A and cross-heading inserted

  1. After section 190, insert:

    Qualified privilege protection

    190ABank’s warnings, reports, guidelines, or comments protected by qualified privilege

    1. For the purposes of clause 3 of Part 2 of Schedule 1 of the Defamation Act 1992, any warning, report, guideline, or comment issued or made by the Bank in the course of the performance or intended performance of its functions must be treated as an official report made by a person holding an inquiry under the authority of the Parliament of New Zealand.