30BProtection from civil liability

30B Protection from civil liability

Protection from civil liability—conduct relating to designated payment systems (1) A person covered by subsection (2) is not subject to civil liability in respect of an act or omission of the person if: (a) the act or omission is done in good faith: (i) in the performance or exercise (or purported performance or exercise) of a function or power under this Act; or (ii) for the purpose of assisting another person to perform or exercise a function or power under this Act; and (b) the act or omission relates to a designated payment system. (2) The following persons are covered by this subsection: (a) the Reserve Bank; (b) a person who is an officer within the meaning of subsection 79A(1) of the Reserve Bank Act 1959, except a person mentioned in paragraph (d) or (e) of the definition of officer in that subsection; (c) a person prescribed by regulations made for the purposes of this paragraph. Protection from civil liability—conduct relating to special designated payment systems (3) A person covered by subsection (2) or (4) is not subject to civil liability in respect of an act or omission of the person if: (a) the act or omission is done in good faith: (i) in the performance or exercise (or purported performance or exercise) of a function or power under this Act; or (ii) for the purpose of assisting another person to perform or exercise a function or power under this Act; and (b) the act or omission relates to a special designated payment system; and (c) if the act or omission contravenes a direction given by the Minister under subsection 11F(1), or a direction given by a delegator as mentioned in subsection 31(3) or 31A(5)—the person attempted in good faith to comply with the direction. (4) The following persons are covered by this subsection: (a) a nominated special regulator (other than the Reserve Bank); (b) the head of such a nominated special regulator; (c) a delegate of such a nominated special regulator, or of the head of such a nominated special regulator; (d) a person prescribed in relation to such a nominated special regulator by regulations made for the purposes of this paragraph.