48B Vacancy in office of Deputy Governor

(1)

If the office of Deputy Governor becomes vacant, the Minister must, on the recommendation of the Board, appoint any person (other than a director of the Bank) as Deputy Governor for a period not exceeding 6 months.

(2)

The Deputy Governor who has vacated office (for example, at the end of the Deputy Governor’s term) may not be appointed under subsection (1).

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