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Reserve Bank of New Zealand Act 2021

Operation of Reserve Bank - Protections from liability

181: Protection from liability for Bank

You could also call this:

"The Bank is protected from being sued if it acts in good faith."

Illustration for Reserve Bank of New Zealand Act 2021

The Bank is not liable for anything it does or does not do in good faith. You can find more information about this in the Act, the prudential legislation, or other legislation that gives the Bank functions or powers. The Bank must follow the law. The Bank can still be liable for some things, like if it breaks the law on purpose. You can read about these laws in the Crimes Act 1961, specifically sections like section 78, 78AAA, 78AAB, 78AA(1), 78A(1), 105, 105A, 105B, or 105F. This section does not affect any contracts the Bank has. You can read more about this in section 191.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS325231.

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180: Definitions for protections from liability, or

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Part 4Operation of Reserve Bank
Protections from liability

181Protection from liability for Bank

  1. The Bank is not liable for 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 under—

  2. this Act; or
    1. the prudential legislation; or
      1. any other legislation that confers or imposes functions or powers on the Bank.

        1. Nothing in this section applies in respect of proceedings for—

        2. an offence under section 78, 78AAA, 78AAB, 78AA(1), 78A(1), 105, 105A, 105B, or 105F of the Crimes Act 1961; or
          1. the offence of conspiring to commit an offence under any of those sections of the Crimes Act 1961; or
            1. the offence of attempting to commit an offence under any of those sections of the Crimes Act 1961.

              1. This section does not limit any liability that the Bank has in relation to any contract or other enforceable obligation entered into by the Bank (see section 191).

              Notes
              • Section 181(2)(a): amended, on , by section 17 of the Crimes (Countering Foreign Interference) Amendment Act 2025 (2025 No 71).