41 Duties of Governor

(1)

It is the duty of the Governor to ensure that the Bank carries out the functions imposed on it by—

(a)

this Act; and

(1A)

The office of Governor includes performing and exercising functions, powers, and duties as the chairperson and a member of the MPC (see clause 28 of Schedule 2 for the Governor’s duties as chairperson).

(2)

The Governor has the authority, in the performance of those functions, to act in relation to all matters that are not required, by any Act referred to in subsection (1), to be dealt with by the Board or the MPC.

Section 41: replaced, on 8 September 2010, by section 241(1) of the Insurance (Prudential Supervision) Act 2010 (2010 No 111).

Section 41(1)(c): replaced, on 1 May 2014, by section 92(1) of the Non-bank Deposit Takers Act 2013 (2013 No 104).

Section 41(1)(d): inserted, on 1 May 2014, by section 92(1) of the Non-bank Deposit Takers Act 2013 (2013 No 104).

Section 41(1A): inserted, on 1 April 2019, by section 11(1) of the Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018 (2018 No 59).

Section 41(2): replaced, on 1 May 2014, by section 92(1) of the Non-bank Deposit Takers Act 2013 (2013 No 104).

Section 41(2): amended, on 1 April 2019, by section 11(2) of the Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018 (2018 No 59).