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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Monetary policy committee - Charter for MPC

103: Replacement charter

You could also call this:

"Getting a New Charter for the Reserve Bank"

Illustration for Reserve Bank of New Zealand Act 2021

You can get a new charter at any time if the Minister and the MPC agree. The Minister and the MPC think about getting a new charter when the Minister issues a new MPC remit. They look at a report provided under section 104 if one is given. You know a new charter starts on the day it is issued or a later date in the charter. The old charter is still used until a new one is issued. The Minister and the MPC work together on this.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287136.

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102: Content of charter, or

"What the Monetary Policy Committee charter must include"

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104: Consultation about replacement charter, or

"Asking the Public About Changing the Bank's Charter"

Part 2Reserve Bank of New Zealand
Monetary policy committee: Charter for MPC

103Replacement charter

  1. The Minister and the MPC may agree to issue a replacement charter at any time.

  2. The Minister and the MPC must consider whether it is necessary or desirable to issue a replacement charter when a new MPC remit is to be issued by the Minister.

  3. If a report is provided under section 104, the Minister and the MPC must have regard to the report.

  4. A replacement charter takes effect on and from—

  5. the date on which it is issued; or
    1. a later date specified in the charter.

      1. Until a replacement charter is issued, the existing charter continues in force.

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