Deposit Takers Act 2023

Miscellaneous - Trans-Tasman co-operation

441: Failure to comply with subpart does not affect validity of Bank’s actions

You could also call this:

"Mistakes with rules don't make a bank's actions invalid"

Illustration for Deposit Takers Act 2023

If a bank does not follow the rules in this part of the law, it does not mean their actions are invalid. You can still do things even if you do not follow all the rules in this subpart. The bank's actions are still valid even if they make a mistake with these rules.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS497938.

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Part 8Miscellaneous
Trans-Tasman co-operation

441Failure to comply with subpart does not affect validity of Bank’s actions

  1. The performance or exercise of a function, power, or duty is not invalid by reason only of a failure to comply with this subpart.

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