162B Content of statement of intent

(1)

Each statement of intent must contain the following information for the full period to which it relates:

(a)

key background information about the Bank and its operating environment:

(b)

the nature and scope of the Bank’s functions and its principal areas of operation:

(c)

the specific impacts, outcomes, or objectives that the Bank seeks to achieve or contribute to:

(d)

how the Bank (whether acting itself or through the MPC) intends to perform its functions and conduct its operations to achieve those impacts, outcomes, or objectives:

(da)

if a direction has been given under section 68B, how the Bank has had regard to the direction:

(e)

the proposed strategies for managing the organisational health and capability of the Bank:

(f)

a statement of the projected income and expenditure for the first financial year in the period to which the statement of intent relates:

(g)

a statement of the principles in accordance with which the Bank must determine the amount it recommends to the Minister as appropriately payable by the Bank to the Crown as an annual dividend:

(h)

the main financial and non-financial measures and standards by which the future performance of the Bank may be judged:

(i)

the matters on which the Bank will consult or notify the Minister before making a decision, the matters on which it will report to its Minister, and the frequency of reporting:

(j)

any other matters that are reasonably necessary to achieve an understanding of the Bank’s intentions and direction.

(2)

Each statement of intent must be dated and signed by the Governor and the Deputy Governor.

Section 162B: inserted, on 25 January 2005, by section 37(1) of the Public Finance Amendment Act 2004 (2004 No 113).

Section 162B(1)(c): replaced, on 10 September 2008, by section 24(1) of the Reserve Bank of New Zealand Amendment Act 2008 (2008 No 59).

Section 162B(1)(d): replaced, on 10 September 2008, by section 24(1) of the Reserve Bank of New Zealand Amendment Act 2008 (2008 No 59).

Section 162B(1)(d): amended, on 1 April 2019, by section 31(1) of the Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018 (2018 No 59).

Section 162B(1)(da): inserted, on 10 September 2008, by section 24(1) of the Reserve Bank of New Zealand Amendment Act 2008 (2008 No 59).

Section 162B(1)(g): inserted, on 10 September 2008, by section 24(2) of the Reserve Bank of New Zealand Amendment Act 2008 (2008 No 59).

Section 162B(1)(h): inserted, on 10 September 2008, by section 24(2) of the Reserve Bank of New Zealand Amendment Act 2008 (2008 No 59).

Section 162B(1)(i): inserted, on 10 September 2008, by section 24(2) of the Reserve Bank of New Zealand Amendment Act 2008 (2008 No 59).

Section 162B(1)(j): inserted, on 10 September 2008, by section 24(2) of the Reserve Bank of New Zealand Amendment Act 2008 (2008 No 59).

Section 162B(2): amended, on 1 April 2019, by section 31(2) of the Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018 (2018 No 59).