New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) For the purposes of this Act,—
(a) an individual knows or has knowledge of a fact in relation to a particular transaction when that person has actual knowledge of the fact or receives a notice stating the fact:
(b) an organisation knows or has knowledge of a fact in relation to a particular transaction when—
(i) the person within the organisation with responsibility for matters to which the transaction relates has actual knowledge of the fact; or
(ii) the organisation receives a notice stating the fact; or
(iii) the fact is communicated to the organisation in such a way that it would have been brought to the attention of the person with responsibility for matters to which the transaction relates if the organisation had exercised reasonable care:
(c) a government department knows or has knowledge of a fact in relation to a particular transaction when that fact has been brought to the attention of a senior employee of the government department with responsibility for the matters to which the fact relates, under circumstances in which a reasonable person would take cognisance of it.
(2) For the purposes of subsection (1),—
(a) a person receives a notice when the notice is given to the person in accordance with sections 184 to 189 (service of notices):
(b) an organisation exercises reasonable care if—
(i) it takes reasonable steps to ensure that significant information is brought to the attention of the person within the organisation with responsibility for matters to which a particular transaction relates; but
(ii) nothing in subparagraph (i) requires a person acting on behalf of the organisation to communicate information unless the communication is part of that person's regular duties or unless the person has reason to know of the transaction and that the transaction would be materially affected by the information.
(3) For the purposes of this section,—
government department means an entity named in Part 1 of Schedule 1 of the Ombudsmen Act 1975
organisation does not include a government department.
Compare: Personal Property Security Act 1993 s 2(2) (Saskatchewan)
Section 19(1)(c): added, on 15 April 2004, by section 7(1) of the Personal Property Securities Amendment Act 2004 (2004 No 30).
Section 19(3): added, on 15 April 2004, by section 7(2) of the Personal Property Securities Amendment Act 2004 (2004 No 30).
