48A Deputy Governor may act pending appointment

(1)

Pending the appointment of a person as Governor under section 48, the Deputy Governor must act as Governor for a period of 28 days or until a person is appointed under that section, whichever is less.

(2)

The Deputy Governor, so long as that person acts as Governor under this section,—

(a)

has all the duties, responsibilities, and functions of the Governor under this Act and may exercise all the powers of the Governor under this Act; and

(b)

must be treated as being a director of the Bank.

Section 48A: inserted, on 1 April 2019, by section 16 of the Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018 (2018 No 59).