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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Validity of acts

16: Acts in breach of statute are invalid

You could also call this:

"Doing something against the law or without a good reason is not allowed for the Reserve Bank"

Illustration for Reserve Bank of New Zealand Act 2021

If you do something as part of the Reserve Bank of New Zealand, it is not valid if it goes against a law or is not something the Bank is allowed to do. You also need to make sure you are doing it for the right reason, which is to carry out the Bank's jobs. If you make a small mistake, a court might still help you. If a court is looking at something the Bank did, they can still help even if the Bank made a small mistake. You can find similar information in section 19 of another law. This law is about how the Reserve Bank of New Zealand must work.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287025.

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"The Bank can only do things to help it do its job."

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"Some things you do with the Reserve Bank are okay even if they're not perfectly legal"

Part 2Reserve Bank of New Zealand
Validity of acts

16Acts in breach of statute are invalid

  1. An act of the Bank is invalid, unless section 17 applies, if it is—

  2. an act that is contrary to, or outside the authority of, an Act; or
    1. an act that is done otherwise than for the purpose of performing its functions.

      1. Subsection (1) does not limit any discretion of a court to grant relief in respect of a minor or technical breach.

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