Section 111 — Social Security Act 2018: Beneficiary must hold, and give MSD details of, bank account

111 Beneficiary must hold, and give MSD details of, bank account (1) It is a condition of every benefit, unless MSD in a particular case determines otherwise, that the applicant or beneficiary must, by the deadline (specified by regulations made under section 438(2)(a)(ii) ) for receipt by MSD of any supporting evidence reasonably required by MSD,— (a) give MSD details of an existing suitable bank account held by the applicant or beneficiary; or (b) open a bank account, if the applicant or beneficiary does not hold one, and give MSD details of it. (2) Bank account , in this section, means an account with a bank that is a registered bank (as defined in section 2(1) of the Reserve Bank of New Zealand Act 1989), a private savings bank, a credit union, a building society, or a non-bank deposit taker (as defined in section 5 of the Non-bank Deposit Takers Act 2013). Compare: 1964 No 136 s 82(7) ; 1994 No 166 s 184A(4) ; 2006 No 40 s 221(4)