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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Board of Bank and its members - Conflict of interest disclosure rules

65: Consequences of being interested in matter

You could also call this:

"What happens if you have a personal interest in a decision"

Illustration for Reserve Bank of New Zealand Act 2021

You are a member of the Reserve Bank of New Zealand. If you have an interest in a matter, you must not vote on it. You must not discuss or decide on the matter. You are a member of the Bank and you have a role to play. If you are interested in a matter, you must not sign any documents about it. When the matter is being discussed, you will not be counted as being at the meeting for that part of the discussion.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287096.

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64: What must be disclosed, or

"Telling others about your interests and what they are worth"

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66: Consequences of failing to disclose interest, or

"What happens if you don't tell people about your interest in something?"

Part 2Reserve Bank of New Zealand
Board of Bank and its members: Conflict of interest disclosure rules

65Consequences of being interested in matter

  1. A member who is interested in a matter relating to the Bank—

  2. must not vote or take part in any discussion or decision of the board or any committee relating to the matter, or otherwise participate in any activity of the Bank that relates to the matter; and
    1. must not sign any document relating to the entry into a transaction or the initiation of the matter; and
      1. is to be disregarded for the purpose of forming a quorum for that part of a meeting of the board or committee during which a discussion or decision relating to the matter occurs or is made.

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