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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Reporting obligations - Planning: statement of intent

218: Minister may require Bank to prepare new statement of intent at any time

You could also call this:

"The Minister can ask the Reserve Bank to create a new plan at any time."

Illustration for Reserve Bank of New Zealand Act 2021

The Minister can ask the Bank to prepare a new statement of intent at any time if they think it is necessary or desirable. You need to know that this new statement must follow the rules set out in sections 217 and 220. The Minister can also ask the Bank to include plans for the rest of the current financial year, as well as the next financial year and at least the three years after that.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287260.

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217: Obligation to prepare statement of intent, or

"The Reserve Bank must make a plan for what it wants to achieve and share it with the Minister."

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219: Minister may grant extension of time for requirement to provide statement of intent, or

"The Minister can give the Bank more time to provide a statement of intent if needed."

Part 5Financial and accountability matters
Reporting obligations: Planning: statement of intent

218Minister may require Bank to prepare new statement of intent at any time

  1. The Minister may, if the Minister considers it necessary or desirable, require the Bank to provide a new statement of intent at any time.

  2. A statement of intent provided under this section must comply with sections 217 and 220.

  3. Despite section 217(2), the Minister may require the new statement of intent to relate to the remainder of the current financial year in addition to the forthcoming financial year and at least the following 3 financial years.

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