Banking (Prudential Supervision) Act 1989

If you need more information about this Act, please contact the administering agency: Reserve Bank of New Zealand
1A Purpose

The purpose of this Act is to promote the prosperity and well-being of New Zealanders, and contribute to a sustainable and productive economy, by providing for the Reserve Bank of New Zealand, as the central bank, to be responsible for—

(a)

registering banks and undertaking prudential supervision of registered banks; and

(b)

carrying out other functions, and exercising powers, specified in this Act.

Section 1A: replaced, on 1 July 2022, by section 299(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).