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RBNZ News Release: Chatham Islands "Dollars" not legal tender

Reserve Bank of New Zealand

News Release

Date: 16.05.00

The Reserve Bank today reminded those marketing so-called Chatham Islands dollars that they are not legal tender. Reserve Bank Deputy Governor Murray Sherwin said: “These so-called Chatham Island dollars are harmless as a promotional gimmick and as a bit of fun.  Also, if people want to use them to undertake transactions, that’s fine too, just as one can pay for a service with monopoly play money, sea shells, or bottles of beer, if the seller is happy to receive them.

“But the law does not permit anyone, aside from the Reserve Bank, to issue bank notes or anything claiming to be legal tender.  The Reserve Bank some time ago indicated to the group producing the Chatham Islands notes that, so long as they didn’t pretend to be issuing legal tender, that was fine.  Indeed, the actual notes do not resemble New Zealand’s currency and thus they have the same status as ‘monopoly play money, sea shells or bottles of beer’.

“However, since then in one reported statement these Chatham Island dollars have been called “legal tender” by one of the people marketing them.  I’m sure this was an accidental slip of the tongue, or incorrect reporting, but I will be writing to the group just to remind them of the law in this area.

“In practical terms, a person selling goods or services is obliged to accept legal tender as payment.  Nobody on the Chatham Islands or anywhere else is in any way obliged to accept Chatham Islands dollars as payment for anything,” Mr Sherwin concluded.

For further information contact

Paul Jackman

Corporate Affairs Manager

Phone 04 471 3671, home 04 938 8177, pager 026 105 085

"New Zealand has two territories in the South Pacific which are in the same relationship to her as the Associated States are to the UK. These are the Cook Islands and Niue.  - så skriver myndigheterna.

Niue

Niue tillhör alltså Nya Zeeland. Jag har en egen sida om detta område i Söderhavet.

Gå dit via länken här intill

Cooköarna

Cooköarna tillhör även de Nya Zeeland. Och jag har en egen sida om Cook öarna. Gå dit via länken här intill.

Tokelau

Det finns en tredje grupp öar i Söderhavet som tillhör Nya Zeeland. För fullständighetens skull har även de fått en egen sida på den här webbplatsen.