Insurance (Prudential Supervision) Act 2010

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

Miscellaneous provisions

135 Confidentiality of information, data, documents, and forecasts

(1)

This section applies to—

(a)

information, data, documents, and forecasts supplied or disclosed to or obtained by the following under, or for the purposes of, or in connection with the exercise of powers conferred by, this Act:

(i)

the Bank; or

(ii)

an investigator:

(b)

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

(c)

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

(2)

The Bank may publish or disclose any information, data, document, or forecast to which this section applies only if—

(a)

the information, data, document, or forecast is available to the public under any Act (other than the Official Information Act 1982) or is otherwise publicly available; or

(b)

the information or data or forecast is in a statistical or summary form; or

(c)

the publication or disclosure of the information, data, document, or forecast is 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; or

(d)

the publication or disclosure is made under subpart 3 of Part 6 of the Reserve Bank of New Zealand Act 2021 (which relates to information sharing); or

(e)

the publication or disclosure of the information, data, document, or forecast is to any person that the Bank is satisfied has a proper interest in receiving the information, data, document, or forecast; or

(f)

the publication or disclosure of the information, data, document, or forecast is with the consent of the person to whom that material relates or of the person to whom that material is confidential.

(3)

The Bank must not publish or disclose information, data, a document, or a forecast under subsection (2)(e) unless the Bank is satisfied that appropriate provision exists to protect the confidentiality of that material.

(4)

An officer or employee of the Bank or an investigator must not publish or disclose any information, data, document, or forecast to which this section applies except for the purposes of, or in connection with, the performance or exercise of any function or power conferred by this Act or any other enactment.

(5)

An officer or employee of the Bank or an investigator commits an offence if the officer, employee, or investigator fails to comply with this section and is liable, on conviction, to imprisonment for a term not exceeding 3 months or to a fine not exceeding $200,000 (or both).

(6)

The Bank may make information, data, a document, or a forecast to which this section applies available under the Official Information Act 1982 only if 1 or more grounds under subsection (2) apply.

Section 135(2)(a): amended, on 1 July 2022, by section 300(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).

Section 135(2)(c): replaced, on 1 July 2022, by section 300(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).

Section 135(2)(d): replaced, on 1 July 2022, by section 300(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).

Section 135(3): amended, on 1 July 2022, by section 300(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).

Section 135(5): amended, on 1 July 2013, by section 413 of the Criminal Procedure Act 2011 (2011 No 81).

Section 135(6): inserted, on 1 July 2022, by section 300(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).