Excluded assets
18 Excluded assets
A person to whom this subregulation applies is not required to ascertain, or enquire into, whether any property the subject of the dealing or transaction (whether or not that property is land) is an excluded asset, nor is such person to be affected by any notice, express, implied or constructive, that any such property is an excluded asset.
If any dealing or transaction is entered into by National with any person, in relation to or in connection with an excluded asset, it is to be deemed in favour of that person that National has full power and authority to enter into that dealing or transaction as if that asset had vested in National under Part 2.
Nothing in this regulation affects the liability of National to BNZ in respect of anything done, or purporting to be done, by National in relation to or in connection with an excluded asset.
Subregulation (1) applies to —
the Registrar of Titles;
any other person registering or certifying title to land or having the power or duty to examine or receive evidence as to title to land, in respect of any dealing or transaction entered into or purporting to be entered into by National or BNZ; and
a person dealing with National or BNZ (in any capacity).
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