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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Funding agreements and annual dividend - Funding agreements

211: Funding agreements to be published and presented to House of Representatives

You could also call this:

"The Reserve Bank must share its funding agreements with the public and Parliament."

Illustration for Reserve Bank of New Zealand Act 2021

You need to know what the Reserve Bank of New Zealand does with its funding agreements. The Bank must put a copy of a funding agreement on its website as soon as possible after it is made. The Minister must give a copy of the funding agreement to the House of Representatives within 12 sitting days. You will also see the latest budget with the funding agreement when it is published or presented. This budget is mentioned in section 210(1)(f). The budget helps explain the funding agreement. The Minister and the Bank must follow these rules when making funding agreements. They must publish and present the agreements in a certain way. This helps keep everyone informed about what the Bank is doing.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287208.

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210: Contents of funding agreements, or

"What the Reserve Bank's funding agreement must include"

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"What happens to Bank spending when there's no funding agreement"

Part 5Financial and accountability matters
Funding agreements and annual dividend: Funding agreements

211Funding agreements to be published and presented to House of Representatives

  1. The Bank must publish a copy of a funding agreement or a variation of a funding agreement on an Internet site maintained by, or on behalf of, the Bank as soon as practicable after the agreement or variation is entered into.

  2. The Minister must present a copy of a funding agreement or a variation of a funding agreement to the House of Representatives within 12 sitting days after the agreement or variation is entered into.

  3. The funding agreement or variation of a funding agreement must be accompanied by the latest budget under section 210(1)(f) when the agreement or variation is published or presented under this section.

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