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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

38: Just cause for removal of members

You could also call this:

"Removing a Reserve Bank member for a good reason"

Illustration for Reserve Bank of New Zealand Act 2021

You can remove a member of the Reserve Bank for just cause. Just cause includes things like misconduct or not doing their job properly. It also includes stopping the Monetary Policy Committee from doing its job. You can remove a member for other reasons too, like not following the rules. This does not limit the other reasons for removal. If you want to know more about this, you can look at section 40 of another act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287062.

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37: Removal of members, or

"The Governor-General can remove a board member for a good reason after getting advice."

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"How a bank board member can be removed from their job"

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

38Just cause for removal of members

  1. In section 37, just cause includes—

  2. misconduct, inability to perform the functions of office, neglect of duty, and breach of any of the collective duties of the board or the individual duties of members (depending on the seriousness of the breach):
    1. obstructing, hindering, or preventing the MPC from discharging the responsibilities of the MPC under this Act.

      1. Subsection (1)(b) does not limit subsection (1)(a).

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