Banking (Prudential Supervision) Act 1989

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

Miscellaneous provisions

105 Confidentiality of information

(1)

This section applies to—

(a)

information, data, and forecasts supplied or disclosed to, or obtained by,—

(i)

the Bank:

(ii)

a person appointed under section 99(2)(b), section 101, or section 119—

under, or for the purposes of, or in connection with the exercise of powers conferred by, this Part:

(b)

information and data derived from or based upon information, data, and forecasts referred to in paragraph (a):

(c)

information relating to the exercise, or possible exercise, of the powers conferred by this Part.

(2)

Information, data, and forecasts to which this section applies shall not be published or disclosed by the Bank, any officer or employee of the Bank, or a person appointed under section 99(2)(b), section 101, or section 119, except—

(a)

with the consent of the person to whom the information relates:

(b)

to the extent that the information is available to the public under any Act, other than the Official Information Act 1982, or is otherwise publicly available information:

(c)

in statistical or summary form arranged in such a manner as to prevent any information published or disclosed from being identified by any person as relating to any particular person:

(d)

for the purposes of, or in connection with, the performance or exercise of any function, power, or duty conferred or imposed on the Bank by this Act or any other legislation:

(e)

in connection with any proceedings for an offence against this Act:

(f)

under subpart 3 of Part 6 of the Reserve Bank of New Zealand Act 2021 (which relates to information sharing):

(g)

to any person whom the Bank is satisfied has a proper interest in receiving such information.

(3)

No information, data, or forecasts shall be published or disclosed pursuant to paragraph (f) or paragraph (g) of subsection (2) unless the Bank is satisfied that satisfactory provision exists to protect the confidentiality of the information, data, or forecasts published or disclosed.

(4)

No officer or employee of the Bank and no person appointed under section 99(2)(b), section 101, or section 119 shall use any information, data, or forecasts to which this section applies for a purpose not connected with the purpose for which such information, data, or forecasts was, or were, supplied, disclosed, or obtained.

(5)

No person to whom any information, data, or forecasts to which this section applies is or are published or disclosed pursuant to subsection (2)(d) shall publish, disclose, or use such information, data, or forecasts except—

(a)

for the purposes of, or in connection with, the performance or exercise of any function, power, or duty referred to in that paragraph; and

(b)

in accordance with such conditions as may be specified by the Bank.

(6)

No person to whom any information, data, or forecasts to which this section applies is or are published or disclosed pursuant to subsection (2)(a) or subsection (2)(g), shall publish, disclose, or use such information, data, or forecasts unless the publication, disclosure, or use is—

(a)

authorised by the Bank; or

(b)

necessary or desirable in connection with the exercise of any function or power conferred by any enactment.

(7)

A person referred to in subsection (7A) commits an offence if the person contravenes this section.

(7A)

The persons are—

(a)

any officer or employee of the Bank; or

(b)

a person appointed under section 99(2)(b), section 101, or section 119.

(7B)

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

(8)

Nothing in the Official Information Act 1982 or any other Act, other than this Act, applies to information, data, and forecasts to which this section applies whether or not such information, data, and forecasts has or have been published or disclosed to any person pursuant to this section.

Compare: 1964 No 134 s 38P; 1986 No 131 s 10; 1989 No 11 s 23

Section 105(1)(a)(ii): amended, on 21 August 2003, by section 41 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 105(2): amended, on 21 August 2003, by section 41 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 105(2)(b): amended, on 21 August 2003, by section 41 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 105(2)(d): replaced, on 1 July 2022, by section 299(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).

Section 105(2)(f): replaced, on 1 July 2022, by section 299(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).

Section 105(4): amended, on 21 August 2003, by section 41 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 105(5)(a): replaced, on 1 July 2022, by section 299(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).

Section 105(7): replaced, on 21 August 2003, by section 41 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 105(7A): inserted, on 21 August 2003, by section 41 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).

Section 105(7B): inserted, on 21 August 2003, by section 41 of the Reserve Bank of New Zealand Amendment Act 2003 (2003 No 46).