55 Term of office of non-executive directors

(1)

Except as provided in subsection (2) and in sections 57 to 59, every non-executive director shall hold office for a term of 5 years.

(2)

[Repealed]

(3)

A non-executive director may from time to time be reappointed.

(4)

A non-executive director may at any time resign office by notice in writing to the Minister.

Section 55(2): repealed, on 1 April 2019, by section 35 of the Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018 (2018 No 59).