If you do something as a bank, it is still valid even if you made a mistake with the rules in this part of the law. The law says that not following the rules in this subpart does not make what you did invalid. This means that what you did is still okay, even if you did not do everything exactly as the rules say.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS538663.
263: Review of statement of approach, or
"The Bank checks and updates its plans every 5 years and tells everyone about it."
265: Bank may give directions to licensed deposit taker, or
"The Bank can give orders to a deposit taker if it thinks something is wrong with how the deposit taker is working."
The performance or exercise of a function, power, or duty is not invalid by reason only of a failure to comply with this subpart.
