Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018

Search within this Act

Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018

Public Act		2018 No 59
Date of assent		20 December 2018
Commencement		see section 2

1	Title
2	Commencement
3	Principal Act
	Part 1 Main amendments
4	Section 1A amended (Purpose)
5	Section 2 amended (Interpretation)
6	New section 3A inserted (Transitional, savings, and related provisions)
	3A	Transitional, savings, and related provisions
7	Section 5 amended (Reserve Bank of New Zealand)
8	Sections 8 to 15 replaced
	8	Function to formulate monetary policy through MPC
	9	Function to implement monetary policy
	10	Remit for MPC
	11	Other matters relating to remit
	12	Order providing for different economic objective or objectives
	13	Order must include replacement remit
	14	Effect of order on current remit
	15	Period may be extended
	15A	Revocation of order
	15B	Functions under sections 8 and 9 not affected
	15C	Regular reports on monetary policy
	15D	Longer-term report on formulation and implementation of monetary policy
9	Section 19 replaced (Effect of directions on policy targets)
	19	Effect of directions on operational objectives
10	Section 20 replaced (Effect of directions on monetary policy)
	20	Effect of directions on monetary policy
11	Section 41 amended (Duties of Governor)
12	Section 42 amended (Conditions of employment of Governor)
13	Sections 43 to 45 replaced
	43	Deputy Governor
	44	Term of appointment and conditions of appointment of Deputy Governor
	45	Extension of term of Governor or Deputy Governor
	45A	Validity of appointments
14	Section 46 amended (Disqualification of Governor and Deputy Governor)
15	Section 47 amended (Incapacity of Governor and Deputy Chief Executive)
16	Section 48 replaced (Vacancy in office of Governor)
	48	Vacancy in office of Governor
	48A	Deputy Governor may act pending appointment
	48B	Vacancy in office of Deputy Governor
17	Section 49 amended (Removal of Governor from office)
18	Section 50 amended (Removal of Deputy Governor from office by Order in Council)
19	Section 51 amended (Delegation)
20	Section 53 amended (Duties of Board)
21	Section 53A amended (Board must prepare annual report)
22	New sections 53B and 53C inserted
	53B	Board must supply reports or other information to Minister
	53C	Bank must supply reports or information to Board
23	Section 54 amended (Membership of Board)
24	Section 58 amended (Disqualification of non-executive directors)
25	Section 59 amended (Removal from office of non-executive directors)
26	Section 59A replaced (Chairperson of Board)
	59A	Chairperson and deputy chairperson of Board
27	Section 60 amended (Meetings of Board)
28	Section 60C amended (Who presides at meetings of Board)
29	New sections 63A to 63N and cross-headings inserted
		Monetary policy committee
	63A	Establishment of monetary policy committee
	63B	Functions of MPC
	63C	Membership of MPC
	63D	Charter
	63E	Content of charter
	63F	Replacement charter
	63G	Consultation about replacement charter
	63H	Publication of charter
	63I	Status of charter
	63J	Code of conduct
	63K	Content of code
	63L	Publication and status of code
	63M	Other matters
		Appointment procedure
	63N	Appointment procedure
30	Section 159 amended (Funding agreements)
31	Section 162B amended (Content of statement of intent)
32	Section 163 amended (Annual reports and accounts)
33	Section 165 amended (Management statements)
34	Section 178 amended (Evidence)
	Part 2 Repeals and schedules
35	Repeals
36	Schedule 1 replaced
37	Schedule 2 replaced
	Schedule 1 Repeals
	Schedule 2 Schedule 1 replaced
	Schedule 3 Schedule 2 replaced
	Legislative history
	Administrative information

The Parliament of New Zealand enacts as follows:

New Zealand Legislation

List of access keys

Quick search

My recent searches

Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018

Reserve Bank of New Zealand (Monetary Policy) Amendment Act 2018

Contents