Banking (Prudential Supervision) Act 1989

If you need more information about this Act, please contact the administering agency: Reserve Bank of New Zealand
70 Application for registration

(1)

Any person may apply to the Bank to be registered as a registered bank.

(2)

Applications to be registered as a registered bank shall be—

(a)

made in such manner as may be specified by the Bank; and

(b)

accompanied by payment of such fee as may be determined by the Bank from time to time with the approval of the Minister.

(3)

Every person who makes an application under this section shall furnish to the Bank such information as may be required by the Bank to assist it in determining the application.

(4)

A person commits an offence if the person provides false or misleading information to the Bank for the purposes of an application.

(5)

The penalty for an offence against this section is set out in section 156AC.

(6)

A determination under subsection (2)(b) is secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

Compare: 1964 No 134 s 38C(3), (4), (5); 1986 No 131 s 10

Legislation Act 2019 requirements for secondary legislation made under this section
PublicationThe maker must publish it in the GazetteLA19 ss 73, 74(1)(a), Sch 1 cl 14
PresentationIt is not required to be presented to the House of Representatives because a transitional exemption applies under Schedule 1 of the Legislation Act 2019LA19 s 114, Sch 1 cl 32(1)(a)
DisallowanceIt may be disallowed by the House of Representatives LA19 ss 115, 116
This note is not part of the Act.

Section 70(2)(b): amended, on 28 October 2021, by section 3 of the Secondary Legislation Act 2021 (2021 No 7).

Section 70(4): inserted, on 21 August 2003, by section 11 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 70(5): inserted, on 21 August 2003, by section 11 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 70(6): inserted, on 28 October 2021, by section 3 of the Secondary Legislation Act 2021 (2021 No 7).