Police Powers and Responsibilities Act 2000

A financial institution must comply with a notice given to it under this part.Maximum penalty—100 penalty units.

However, a financial institution must comply with the notice only to the extent that records needed to comply with the notice are held by, or are under the control of, the institution.

It is a defence to a prosecution for an offence against subsection (1) for the financial institution to prove it—

could not reasonably comply with the notice within the period stated in the notice; and

took reasonable steps to comply with the notice; and

gave the advice sought in the notice as soon as practicable after the period for compliance stated in the notice.