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:

"Protection for Reserve Bank warnings and reports"

Illustration for Deposit Takers Act 2023

You need to know about a new part of the law. It is called section 190A and it is about the Reserve Bank of New Zealand. The Bank's warnings, reports, and comments are protected. You are protected when the Bank gives warnings or reports. This is because the Bank is doing its job. The Bank's comments are like official reports. The law says the Bank's warnings and reports are like reports from someone who is doing an inquiry for Parliament. You can read more about this in the Defamation Act 1992. This law helps the Bank do 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 It might be out of date or be missing some parts.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.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS584123.

This page was last updated on — View changes

Topics:
Money and consumer rights > Banking and loans
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.