Reserve Bank of New Zealand Act 1989

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156AC Penalty for offences relating to registration of banks, disclosure statements, prudential supervision of registered banks, etc

(1)

A person who commits an offence under any of the provisions listed in subsection (2) is liable, on conviction,—

(a)

in the case of an individual, to imprisonment for a term not exceeding 18 months or to a fine not exceeding $200,000:

(b)

in the case of a body corporate, to a fine not exceeding $2,000,000.

(2)

The provisions are—

(a)

section 70 (which relates to providing false or misleading information for the purposes of an application for registration):

(b)

section 72 (which relates to falsely holding out to be a registered bank):

(c)

section 80 (which relates to failing to obtain or maintain a current credit rating):

(d)

section 81AC (which relates to failing to supply information or data to a registered bank to enable the registered bank to comply with an Order in Council made under section 81):

(e)

section 89 (which relates to failing to publish information that is required to be published in a disclosure statement):

(f)

section 89A (which relates to publishing a disclosure statement that includes information that is false or misleading):

(g)

section 89C(1)(a) (which relates to failing to publish a disclosure statement that does not contain false or misleading information after being required to do so under section 83):

(h)

section 89C(1)(b) (which relates to failing to publish a disclosure statement that contains information that was previously omitted after being required to do so under section 83):

(i)

section 89C(1)(c) (which relates to failing to take the corrective action specified by the Bank in a notice given under section 83 after being required to do so under that section):

(j)

section 95 (which relates to failing to supply a report required by the Bank):

(k)

section 95A (which relates to failing to forward a report prepared under section 95 as required by the Bank):

(l)

section 99(4) (which relates to failing to comply with a requirement from the Bank to supply information for the purposes of an inspection and to supplying information that is false or misleading in a material particular):

(m)

section 103(1) (which relates to hindering, obstructing, or delaying an investigation, etc):

(n)

section 103(2) (which relates to failing to comply with a requirement of a person appointed to carry out an investigation, etc)

(o)

section 114(1) (which relates to failing to comply with a direction):

(p)

section 114(2) (which relates to obstructing or hindering, etc, a registered bank from giving effect to a direction):

(q)

section 126 (which relates to transferring or removing from New Zealand any property or assets of a registered bank that is subject to statutory management):

(r)

section 150 (which relates to failing to deliver books, records, etc, to a statutory manager):

(s)

section 151(1)(a) (which relates to destroying, altering, etc, any book, document, or record relating to a registered bank that is subject to statutory management):

(t)

section 151(1)(b) (which relates to failing or refusing to answer a statutory manager’s question about any book, document, etc, relating to a registered bank that is subject to statutory management, and giving a false answer to that question).

Section 156AC: inserted, on 21 August 2003, by section 40 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 156AC(1): amended, on 1 July 2013, by section 413 of the Criminal Procedure Act 2011 (2011 No 81).