The monetary policy committee, or MPC, keeps working. You know the MPC is a group that is part of the Reserve Bank of New Zealand. The MPC is a special group and some rules do not apply to it, like those in clause 14 and clause 15 of Schedule 2.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287129.
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96: Minister must make temporary appointment if office of Governor is vacant, or
"The Minister chooses a temporary boss for the Reserve Bank if the main boss leaves."
98: Functions of MPC, or
"The Monetary Policy Committee's main jobs are to plan how to manage money in New Zealand and do other tasks given to it."
The monetary policy committee (the MPC) is continued.
The MPC is a committee of the Bank.
However, the MPC is not a committee appointed under clause 14 of Schedule 2, and nothing in clause 15 of that schedule applies to a member of the MPC.
