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Reserve Bank of New Zealand Act 2021

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

76: Effect of delegation on Bank or board

You could also call this:

"Delegating tasks doesn't stop the Bank or board from being in charge."

Illustration for Reserve Bank of New Zealand Act 2021

You can delegate tasks, but it does not stop the Bank or the board from doing their jobs. When the Bank or board delegates tasks, they are still responsible for what their delegates do. Delegations are not affected by changes in the board's members or employees.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287106.

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75: Powers of delegate, or

"What a delegate can and can't do"

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77: Revocations of delegations, or

"Stopping a job that was given to someone else"

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

76Effect of delegation on Bank or board

  1. No delegation in accordance with this Act—

  2. affects or prevents the performance of any function or the exercise of any power by the Bank or the board; or
    1. affects the responsibility of the board for the actions of any delegate acting under the delegation; or
      1. is affected by any change in the membership of the board or of any committee or class of persons or by any change in the Governor or any employee.

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