New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The Minister shall, from time to time, in consultation with the Bank, determine the level at which, or the levels within which, foreign reserves shall be maintained for the purpose of enabling the Bank to exercise the powers conferred by this Act.
(2) The Bank must hold and maintain foreign reserves at that level or within those levels.
Section 24(2): substituted, on 10 September 2008, by section 8 of the Reserve Bank of New Zealand Amendment Act 2008 (2008 No 59).
