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Reserve Bank of New Zealand Act 2021

Operation of Reserve Bank - Protections from liability

189: Crown indemnities in relation to statutory management

You could also call this:

"The Crown protects people who work honestly as statutory managers or help with statutory management."

Illustration for Reserve Bank of New Zealand Act 2021

The Crown protects you if you are a statutory manager. You are protected if you do something or don't do something in good faith as a statutory manager. This means you won't be liable for things you do as part of your job. The Crown also protects the Reserve Bank of New Zealand. The Bank is protected if it does something or doesn't do something in good faith. This protection is for things the Bank does when it is helping with statutory management. You can find more information about this by looking at the Reserve Bank of New Zealand Act. The Crown's protection is for people who work in good faith. This means they try to do the right thing when making decisions.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS321015.

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Part 4Operation of Reserve Bank
Protections from liability

189Crown indemnities in relation to statutory management

  1. The Crown indemnifies—

  2. each statutory manager appointed under any prudential legislation for any liability that arises from any act or omission that is done or omitted to be done in good faith and in the performance or exercise, or intended performance or exercise, of the statutory manager’s functions or powers; and
    1. the Bank for any liability that arises from any act or omission that is done or omitted to be done in good faith and in the performance or exercise, or intended performance or exercise, of the Bank’s functions or powers in connection with statutory management under any prudential legislation or any other legislation.

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