New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) If the Governor considers that the giving effect to by the Bank of a direction under either section 17 or section 18 would be inconsistent with the economic objective of monetary policy the Governor may, by notice in writing, advise the Minister that the Bank does not propose to give effect to the direction.
(2) Where a notice is given under this section the Bank shall not, unless an Order in Council is made under section 12 that requires the Bank to formulate and implement monetary policy in accordance with an economic objective that is consistent with the direction, be required to comply with that direction.
