Plain language law

New Zealand law explained for everyone

Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Reporting obligations - Planning: statement of performance expectations

231: Exemption for certain outputs

You could also call this:

"The Minister of Finance can exempt some outputs from reports, if they don't affect the overall result."

Illustration for Reserve Bank of New Zealand Act 2021

The Minister of Finance can choose to exempt some outputs from certain statements. You need to know what outputs are exempt from statements of performance expectations, which are required under section 229 or statements of performance required under section 240(1)(b). The Minister of Finance must be satisfied that the exempt outputs do not affect the overall statement or will be reported on by someone else. The Minister of Finance must consider if the outputs are important to the statement. You should look at if the outputs will be reported on to the House of Representatives by a Minister or another public entity. The Minister of Finance must also think about if the exemption will affect how the Bank's performance is judged.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287276.

This page was last updated on — View changes

Topics:
Money and consumer rights > TaxesGovernment and voting > Government departments
Previous

230: Content of statement of performance expectations, or

"What the Reserve Bank plans to do and how it will measure success"

Next

232: Forecast statement of comprehensive revenue and expense, or

"The Reserve Bank's plan for earning and spending money"

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

231Exemption for certain outputs

  1. The Minister of Finance may exempt, for 1 or more financial years or until further notice, 1 or more classes of outputs from—

  2. any statement of performance expectations required under section 229; or
    1. any statement of performance required under section 240(1)(b).

      1. The Minister of Finance must not exempt a class of outputs from a statement of performance expectations or a statement of performance unless the Minister is satisfied that—

      2. the class of outputs is not material to the statement; or
        1. the class of outputs will be adequately reported on to the House of Representatives by a Minister, a department, or another public entity; or
          1. for any other reason, the exemption does not unreasonably compromise accountability for the performance of the Bank.

            Compare