WESTPAC BANKING CORPORATION AND ORS V COMMISSIONER OF INLAND REVENUE SC 83/2009
The Supreme Court granted leave to appeal and approved as the ground of appeal the question whether an unpresented foreign currency draft or bank cheque, six years after purchase from the drawer bank, constitutes unclaimed money under the Unclaimed Money Act 1971.
Source-derived case information.
- Citation
- SC 83/2009
- Parties
- First Appellant: Westpac Banking Corporation; Second Appellant: Bank of New Zealand; Third Appellant: ANZ National Bank Limited; Respondent: Commissioner of Inland Revenue
- Court
- Supreme Court
- Jurisdiction
- New Zealand
- Judgment Date
- 4 December 2009
- Procedural Posture
- Leave to Appeal / Supreme Court Leave Application Granted
- Outcome
- Leave to appeal granted
- Legal Topics
- Unclaimed Money Act 1971, Foreign Currency Drafts, Bank Cheques, Presentation of Negotiable Instruments
Source-derived case record
Summary, issues, holding and outcome
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Parties
Westpac Banking Corporation
First Appellant
Bank of New Zealand
Second Appellant
ANZ National Bank Limited
Third Appellant
Commissioner of Inland Revenue
Respondent
Procedural Posture
Leave to Appeal / Supreme Court Leave Application Granted
Legal Issues
- 1 Whether a foreign currency draft or bank cheque not presented for six years after purchase from the drawer bank constitutes unclaimed money under the Unclaimed Money Act 1971
Ratio Decidendi
The Supreme Court granted leave to appeal and approved as the ground of appeal the question whether an unpresented foreign currency draft or bank cheque, six years after purchase from the drawer bank, constitutes unclaimed money under the Unclaimed Money Act 1971.
Court Disposition
Leave to appeal granted
Orders
- The application for leave to appeal is granted.
- Approved ground: Where a foreign currency draft or bank cheque is not presented for a period of six years after its purchase from the drawer bank, is the sum for which the draft or bank cheque is drawn unclaimed money for the purposes of the Unclaimed Money Act 1971?
Full Case Text
Judgment text and source record
1 paragraphs
WESTPAC BANKING CORPORATION AND ORS V COMMISSIONER OF INLAND REVENUE SC 83/2009 4 December 2009IN THE SUPREME COURT OF NEW ZEALAND SC 83/2009 [2009] NZSC 124BETWEEN WESTPAC BANKING CORPORATION First Appellant AND BANK OF NEW ZEALAND Second Appellant AND ANZ NATIONAL BANK LIMITED Third Appellant AND COMMISSIONER OF INLAND REVENUE Respondent Court: Tipping and McGrath JJ Counsel: J S Kos QC, J D Every-Palmer and A A O'Rourke for Appellants D J Goddard QC and H L Dempster for Respondent Judgment: 4 December 2009JUDGMENT OF THE COURTA The application for leave to appeal is granted. B The approved ground is: (i) Where a foreign currency draft or bank cheque is not presented for a period of six years after its purchase from the drawer bank, is the sum for which the draft or bank cheque is drawn unclaimed money for the purposes of the Unclaimed Money Act 1971?Solicitors: Russell McVeagh, Wellington for Appellants Crown Law Office, Wellington for Respondent