Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Validity of acts

21: Interpretation for sections 12 to 20

You could also call this:

"What special words mean in sections 12 to 20 of the law"

Illustration for Reserve Bank of New Zealand Act 2021

When you read sections 12 to 20, you need to understand what some words mean. The word 'act' can mean the Bank transferring property, rights, or interests to or from someone. You will also see the word 'do', which can mean to perform an action, have a certain ability, or exercise a power or right. The phrase 'natural person act' refers to something a grown-up can do, like signing a contract to buy or sell something, or employing someone. It can also include buying financial products, borrowing money, or dealing with property. When the Bank does something, the other party involved is called the 'person dealing' with the Bank. This can be someone the Bank is trading with, or someone who has bought something from the Bank. You can find more information about this in sections 12 to 20.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287038.

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Part 2Reserve Bank of New Zealand
Validity of acts

21Interpretation for sections 12 to 20

  1. In sections 12 to 20, unless the context otherwise requires,—

    act includes a transfer of property, rights, or interests to or by the Bank

      do includes—

      1. to do an act; and
        1. to have a capacity; and
          1. to have or exercise a power, right, or privilege

            natural person act

            1. means an act that a natural person of full age and capacity can do (whether or not the act is something that is also authorised by an Act); and
              1. includes entry into a contract for, or relating to, 1 or more of the following:
                1. the acquisition of financial products or borrowing:
                  1. the purchase, leasing, or sale of, or other dealings with, property:
                    1. the employment, or engagement of the services, of a person

                    person dealing

                    1. means the other party to the transaction, if the act of the Bank is a transaction; and
                      1. includes a person who has acquired property, rights, or interests from the Bank.

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