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Radiocommunications Act 1989

Guarantee of management rights to registered managers - Protection of purchasers

60: No liability on bona fide purchaser or mortgagee

You could also call this:

"Protection for honest buyers of management rights or spectrum licences"

Illustration for Radiocommunications Act 1989

You buy management rights or a spectrum licence in good faith. You pay for it and register as the manager or rightholder. You are protected under this law. You get a mortgage on management rights or a spectrum licence in good faith. You pay for it and register as the mortgagee. You are also protected under this law. If someone says the person who sold it to you did something wrong, you are still safe. You keep your management rights or spectrum licence. You do not have to pay damages or give it up.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM196983.

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Topics:
Money and consumer rights > Consumer protectionHousing and property > Buying and selling homesBusiness > Industry rules
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59: Purchasers from registered manager or rightholder not affected by notice, or

"Buying radio frequencies from approved sellers does not affect you if there's a problem with the sale."

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61: Compensation for mistake or misfeasance of Registrar, or

"Getting paid back if the Registrar makes a mistake"

Part 7Guarantee of management rights to registered managers
Protection of purchasers

60No liability on bona fide purchaser or mortgagee

  1. This section applies to—

  2. any person who has acquired management rights in relation to any radio frequencies, or any rights as rightholder in relation to any spectrum licence, as a bona fide purchaser for value, and is registered as manager or, as the case may require, rightholder under this Act; and
    1. any person to whom a mortgage of any management rights or spectrum licence has been granted under this Act, as a mortgagee bona fide for value, and who is registered as a mortgagee of the management rights or spectrum licence under this Act.

      1. No person to whom this section applies shall be subject to action for recovery of damages, or be deprived of the management rights or spectrum licence in respect of which the person is registered or, as the case may be, that person's interest as mortgagee, on the ground that the vendor from whom the registered manager or rightholder so acquired the management rights or spectrum licence or, as the case may require, the mortgagor of the management rights or spectrum licence—

      2. may have been registered as manager or rightholder through fraud or error, or under any void or voidable instrument; or
        1. may have derived from a person registered as manager or rightholder through fraud or error, or under any void or voidable instrument.

          Notes
          • Section 60(1)(a): amended, on , by section 54 of the Radiocommunications Amendment Act 2000 (2000 No 8).
          • Section 60(1)(b): amended, on , by section 54 of the Radiocommunications Amendment Act 2000 (2000 No 8).
          • Section 60(2): amended, on , by section 54 of the Radiocommunications Amendment Act 2000 (2000 No 8).