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Reserve Bank of New Zealand Act 2021

Central bank functions - Currency

154: Defacing bank notes

You could also call this:

"Don't damage New Zealand bank notes on purpose"

Illustration for Reserve Bank of New Zealand Act 2021

You must not intentionally damage a bank note. The Reserve Bank of New Zealand can give permission to do so. If you damage a bank note, you cannot use it or give it to someone else. You cannot put a damaged bank note into circulation or ask for it to be paid. You also cannot deposit a damaged bank note into a bank. If you break this rule, you can get a fine of up to $2,000. This rule is similar to one in the 1989 legislation.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287192.

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Topics:
Money and consumer rights > Banking and loans
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Part 3Central bank functions
Currency

154Defacing bank notes

  1. A person must not intentionally deface, disfigure, or mutilate a bank note.

  2. Subsection (1) does not apply if the Bank has given its prior consent.

  3. A person who is a party to the defacement, disfigurement, or mutilation of a bank note must not intentionally—

  4. use the bank note for the tender of any amount; or
    1. part with the bank note; or
      1. put in circulation the bank note; or
        1. demand payment of the bank note; or
          1. deposit or offer to deposit the bank note in a bank or licensed NBDT.

            1. A person who contravenes this section commits an offence and is liable on conviction to a fine not exceeding $2,000.

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