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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

72: Effect of avoidance on third parties

You could also call this:

"What happens if you buy something from someone who didn't get it from the Reserve Bank properly"

Illustration for Reserve Bank of New Zealand Act 2021

If you get something from someone who is not the Reserve Bank, you still own it. You must have paid for it and not known about any problems with how the other person got it from the Bank. This is because of the rules in section 69 that say some actions can be avoided.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287102.

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Topics:
Money and consumer rights > Consumer protection
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Part 2Reserve Bank of New Zealand
Board of Bank and its members: Conflict of interest disclosure rules

72Effect of avoidance on third parties

  1. The avoidance of an act under section 69 does not affect the title or interest of a person to or in property that that person has acquired if the property was acquired—

  2. from a person other than the Bank; and
    1. for valuable consideration; and
      1. without knowledge of the circumstances of the act under which the person referred to in paragraph (a) acquired the property from the Bank.

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