Plain language law

New Zealand law explained for everyone

Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Validity of acts

18: Limits on protection of natural person acts

You could also call this:

"What you can still do even if someone's actions are protected by law"

Illustration for Reserve Bank of New Zealand Act 2021

You can still take certain actions even if a natural person act is protected. Section 17 does not limit orders to require or restrain acts under section 59. It also does not limit the board from taking action against a member for breach of their duties. You can take action against a member who voted for an act for breach of their individual duties. A member can be removed from office for breach of their duties. You can apply for judicial review in accordance with the law. It also does not limit the Bank from avoiding certain acts done in breach of conflict of interest rules under section 69. This means the Bank can still take action in certain situations.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287027.

This page was last updated on — View changes

Topics:
Money and consumer rights > Banking and loansBusiness > Industry rulesGovernment and voting > Government departments
Previous

17: Some natural person acts protected, or

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

Next

19: Acts that are not in best interests of Bank, or

"Things the Bank can do even if they're not best for it"

Part 2Reserve Bank of New Zealand
Validity of acts

18Limits on protection of natural person acts

  1. Section 17 does not limit—

  2. section 59 (which provides for orders to require or restrain acts); or
    1. the board bringing an action against a member who voted for or otherwise authorised the act for breach of their individual duties as a member; or
      1. a member who voted for or otherwise authorised the act being removed from office for breach of the individual duties of members or the collective duties of the board; or
        1. an application, in accordance with the law, for judicial review; or
          1. section 69 (which allows the Bank to avoid certain acts done in breach of conflict of interest rules).

            Compare