Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Monetary policy committee - Code of conduct

107: Content of code

You could also call this:

"Rules for good behaviour on the Monetary Policy Committee"

Illustration for Reserve Bank of New Zealand Act 2021

The code of conduct has rules for people on the Monetary Policy Committee. You must follow minimum standards of conduct, like managing conflicts of interest and keeping information confidential. The code also promotes active participation and preparation. The rules about conflicts of interest include disclosing your interests and what happens if you do not disclose them. You have to disclose certain interests to certain people in a certain way. There are consequences if you do not disclose your interests. The code of conduct must align with the Reserve Bank of New Zealand Act 2021 and its charter. It cannot contradict anything in the Act or the charter, you can compare this to the 1989 legislation. The code is important for people on the Monetary Policy Committee to follow.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287141.

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Part 2Reserve Bank of New Zealand
Monetary policy committee: Code of conduct

107Content of code

  1. The code must provide for minimum standards of conduct that must be demonstrated when acting as a member of the MPC, including—

  2. rules for managing and avoiding conflicts of interest; and
    1. rules for maintaining the confidentiality of information; and
      1. rules to promote active participation and preparation; and
        1. any other minimum standards of ethical behaviour.
          1. The rules about conflicts of interest may provide for the disclosure of interests, including—

          2. defining the nature of interests to be disclosed; and
            1. providing for what must be disclosed, to whom disclosure must be made, and how disclosures of interests must be made; and
              1. providing for the consequences of non-disclosure; and
                1. regulating or prohibiting participation of an interested member in decision making; and
                  1. providing for the establishment and maintenance of an interests register.
                    1. The code must not be inconsistent with anything in this Act or the charter.

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