Explanatory note

This note is not part of the order, but is intended to indicate its general effect.

This order, which comes into force on 2 May 1988, amends Schedules 1 and 4 of the Higher Salaries Commission Act 1977.

Clause 2: Under section 12(1)(a)(ii) of the Higher Salaries Commission Act 1977, the Higher Salaries Commission has jurisdiction to consider and determine the remuneration of the highest paid executive officer of each of the corporations specified (either by name or by class) in Schedule 1 of that Act and the remuneration of such other officers of those corporations as the Commission thinks fit.

Clause 2 omits from Schedule 1 of that Act the name of the New Zealand Milk Board. That Board was abolished by section 26(3) of the Milk Act 1988.

Clause 3 amends Schedule 4 of the Higher Salaries Commission Act 1977 (which lists officers whose remuneration is determined by the Higher Salaries Commission).

Clause 3 omits from Schedule 4 of that Act the item relating to the Governor and the Deputy Governor of the Reserve Bank of New Zealand.

Under section 17 of the Reserve Bank of New Zealand Act 1964 (as amended by section 2 of the Reserve Bank of New Zealand Amendment Act 1988, which comes into force on 2 May 1988) the salaries and allowances of those officers are to be determined,—

• (a) in the case of the Governor, by the appointed directors in consultation with the Minister of Finance; and

• (b) in the case of the Deputy Governor, by the directors (other than the Deputy Governor).