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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Board of Bank and its members - Appointment, removal, and conditions of members

32: Requirements before appointment

You could also call this:

"What you must do before joining the Reserve Bank's board"

Illustration for Reserve Bank of New Zealand Act 2021

You need to do a few things before you can be appointed to the Reserve Bank of New Zealand's board. You must agree in writing to be a member and say you are not disqualified from being a member. You also need to tell the Minister about any interests you have that relate to the Bank. If you do not tell the Minister about your interests, the board must inform them as soon as they find out. The board has to let the Minister know about this as soon as possible. You can see how this rule has changed over time by looking at the Reserve Bank of New Zealand Act 1986.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287054.

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Part 2Reserve Bank of New Zealand
Board of Bank and its members: Appointment, removal, and conditions of members

32Requirements before appointment

  1. Before a person is appointed as a member of the board, the person must—

  2. consent in writing to being a member; and
    1. certify that they are not disqualified from being a member; and
      1. disclose to the Minister the nature and extent (including monetary value, if quantifiable) of all interests that the person has at that time, or is likely to have, in matters relating to the Bank.

        1. The board must notify the Minister of a failure to comply with subsection (1)(c) as soon as practicable after becoming aware of the failure.

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