New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The Bank may, from time to time, with the prior consent of the Minister, by notice in the Gazette, call in any bank notes or coins issued or deemed to have been issued under this Act.
(2) Every notice shall take effect on a date specified in it.
(3) When the notice takes effect, all bank notes or coins to which it applies shall cease to be legal tender; but the Bank shall continue to be liable to pay any such bank note or coin on presentation at the head office of the Bank.
(4) The Bank shall continue to be liable to pay any bank note issued before the commencement of this Act which has ceased to be legal tender before the commencement of this Act and which the Bank was, immediately before the commencement of this Act, liable to pay, on presentation at the head office of the Bank.
(5) The Bank shall be liable to pay any coin issued by the Minister before the commencement of this Act which has ceased to be legal tender before the commencement of this Act, on presentation at the head office of the Bank.
Compare: 1964 No 27 s 12; 1964 No 134 s 22
