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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Board of Bank and its members - Delegation

74: Ability to delegate

You could also call this:

"The Reserve Bank's board can give some of its jobs to others, like employees or committees."

Illustration for Reserve Bank of New Zealand Act 2021

The Reserve Bank of New Zealand has a board that can give some of its jobs or powers to other people. You can be given these jobs if you are a board member, the Governor, a Bank employee, a committee, or someone approved by the Minister. The board can also give jobs to a group of people or a subsidiary of the Bank. The board cannot give away some important jobs, like those of the Monetary Policy Committee. There are also some other jobs that the board is not allowed to give away, and these are listed in the Act. The board is not allowed to give away its own power to give jobs to others. You can find more information about this by looking at section 73 of a previous 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=LMS287104.

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73: When Governor may not act as member of board, or

"When the Governor can't help make decisions about their own job"

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75: Powers of delegate, or

"What a delegate can and can't do"

Part 2Reserve Bank of New Zealand
Board of Bank and its members: Delegation

74Ability to delegate

  1. The board may delegate any of the functions or powers of the Bank or the board, either generally or specifically, to any of the following persons by resolution and written notice to the person or persons:

  2. a member or members of the board:
    1. the Governor:
      1. any employee or employees of the Bank:
        1. a committee:
          1. any other person or persons approved by the Minister:
            1. any class of persons comprising any of the persons listed in paragraphs (a) to (e):
              1. a subsidiary of the Bank.

                1. Subsection (1) does not apply to—

                2. any functions or powers of the MPC; or
                  1. any other functions or powers specified in this Act as not being capable of delegation.

                    1. The board must not delegate the general power of delegation.

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