Central Bank (Amendment) Bill 2018

Public bill · Private Member · Introduced

The Central Bank (Amendment) Bill 2018 would give the Central Bank stronger powers to investigate people or firms suspected of giving it false or misleading information, and to impose administrative sanctions where that happens. It would also make knowingly, or recklessly, giving false or misleading information or documents to the Central Bank a criminal offence, with fines or prison terms possible on conviction. It matters because the Central Bank relies on accurate information to supervise the financial system, and the bill is aimed at deterring dishonesty and improving compliance.

Formal long title

Bill entitled an Act to extend the application of Part IIIC of the Central Bank Act 1942 to provide powers to the Central Bank to conduct inquiries into the suspected provision of false or misleading information to it and to provide for the administrative sanctions that may be imposed by the Central Bank for the provision of false or misleading information to it; to create an offence of providing false or misleading information to the Central Bank; to amend the Central Bank Act 1942 for those purposes; and to provide for related matters

Last updated 14 November 2024