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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Board of Bank and its members - Conflict of interest disclosure rules

66: Consequences of failing to disclose interest

You could also call this:

"What happens if you don't tell people about your interest in something?"

Illustration for Reserve Bank of New Zealand Act 2021

If you fail to disclose your interest, the board must tell the Minister as soon as possible. You need to know that the board will also tell the Minister which acts are affected by your failure. The acts you were involved in are still valid, even if you failed to disclose your interest. If you failed to disclose your interest, it does not change the fact that your acts are still valid. However, you can still ask for a judicial review, which is a review of a decision by a court. You can do this if you think the decision was not made correctly. You can find more information about this by looking at section 67 of a previous law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287097.

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Part 2Reserve Bank of New Zealand
Board of Bank and its members: Conflict of interest disclosure rules

66Consequences of failing to disclose interest

  1. The board must notify the Minister of a failure to comply with section 62 or 65, and of the acts affected, as soon as practicable after becoming aware of the failure.

  2. A failure to comply with section 62 or 65 does not affect the validity of an act or matter.

  3. However, subsection (2) does not limit the right of any person to apply, in accordance with law, for judicial review.

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