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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

39: Process for removal of members

You could also call this:

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

Illustration for Reserve Bank of New Zealand Act 2021

The Minister can advise that a member be removed. You need to follow the principles of natural justice when doing this. The Minister must consider the matter properly before advising removal.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287063.

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

39Process for removal of members

  1. The Minister may advise the removal of a member with as little formality and technicality, and as much expedition, as is permitted by—

  2. the principles of natural justice; and
    1. a proper consideration of the matter.

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