The Minister has to make sure there is always an MPC remit in place. You can think of a remit as a set of instructions. The Minister can issue a new MPC remit at any time. The Minister must do everything they can to ensure an MPC remit is always in force. This remit can be one the Minister issues or one that is already in force under the Reserve Bank of New Zealand Act 2021. It is the Minister's job to make this happen. You can find more information about this by looking at the Reserve Bank of New Zealand Act and similar laws, such as the 1989 law.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287165.
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The Minister must take all reasonable steps to ensure that an MPC remit is in force at all times (whether the remit is issued by the Minister under this section or is otherwise in force under this Act).
The Minister may issue an MPC remit at any time (whether or not any remit advice has been given).
