167 Performance audit

(1)

The Minister may, from time to time, appoint 1 or more persons (whether as individuals or as members from time to time of any firm or firms) to carry out an assessment of the performance by the Bank of its functions and of the exercise by the Bank of its powers under this Act.

(2)

As soon as practicable after completing an assessment the person appointed shall submit a report to the Minister setting out the results of that assessment.

(3)

The report stands referred, by virtue of this section, to the House of Representatives.

(4)

A person appointed to conduct an assessment under this section, for the purpose of conducting that assessment,—

(a)

shall have full access to all books and documents that are the property of or that are under the control of any person relating to the Bank or its affairs:

(b)

may require any director, officer or employee of the Bank or any other person to answer any question relating to the Bank or its affairs:

(c)

may, by notice in writing to any person, require that person to deliver any books or documents relating to the Bank or its affairs in the possession or under the control of that person and may take copies of them or extracts from them.

(5)

Nothing in subsection (4) limits or affects section 105.

(6)

The fees of the person appointed to carry out an assessment under this section shall be paid out of the funds of the Bank.

Section 167(3): replaced, on 25 January 2005, by section 37(1) of the Public Finance Amendment Act 2004 (2004 No 113).