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Reserve Bank of New Zealand Act 2021

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

226: Obligation to publish and present statement of intent

You could also call this:

"The Reserve Bank must share its plans with the public on its website and with the government."

Illustration for Reserve Bank of New Zealand Act 2021

The Reserve Bank of New Zealand must publish its statement of intent on the internet as soon as possible. You can find this statement on the Bank's website. The Minister can stop the Bank from publishing the statement before the Budget day if it is for a period starting after that day. The Minister must give a copy of the statement to the House of Representatives. This copy can be in the Bank's annual report or in another document presented at the same time. You can find more information about the annual report in section 239. The Bank and the Minister follow these rules to keep you informed about what the Bank plans to do. The statement of intent is an important document that outlines the Bank's goals and plans. You can learn more about the Reserve Bank of New Zealand Act 2021 and its provisions on the legislation website.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287270.

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225: Process for amendments to statement of intent, or

"How to Change the Bank's Statement of Intent"

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227: Obligation to publish and present amendments to statement of intent, or

"The Reserve Bank must share changes to its plans with the public and Parliament."

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

226Obligation to publish and present statement of intent

  1. The Bank must, as soon as practicable after providing a final statement of intent to the Minister, publish the statement of intent on an Internet site maintained by, or on behalf of, the Bank.

  2. However, if a final statement of intent relates to a period commencing on or after the next Budget day, the Minister may require the Bank not to publish the statement in the pre-Budget period.

  3. The Minister must present a copy of the final statement of intent to the House of Representatives—

  4. in the same document as the Bank’s annual report for the financial year before the first full financial year to which the statement of intent relates (see section 239); or
    1. in any other document presented on or before the date on which the annual report described in paragraph (a) is presented.

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