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Reserve Bank of New Zealand Act 2021

Operation of Reserve Bank - Government directions to Bank

175: When procedural requirements for directions do not apply

You could also call this:

"When rules about telling banks what to do don't apply"

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You need to know when some rules do not apply to directions given to a bank. Section 174 does not apply to certain directions, such as those under section 172 or section 77 of the Banking (Prudential Supervision) Act 1989. Section 174 also does not apply if another Act has its own procedure for giving directions, and it is subject to section 135.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS293373.

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Topics:
Money and consumer rights > Banking and loansBusiness > Industry rules
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174: Procedure for ministerial directions, or

"How the Minister gives instructions to the Reserve Bank"

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176: Review and expiry of all directions given to Bank, or

"Checking and ending Bank directions from the Minister"

Part 4Operation of Reserve Bank
Government directions to Bank

175When procedural requirements for directions do not apply

  1. Section 174 does not apply to directions under section 172.

  2. Section 174 does not apply to directions under section 77 of the Banking (Prudential Supervision) Act 1989.

  3. Section 174 does not apply, in the case of any other directions given under another Act, if the other Act contains a procedure for giving directions.

  4. Section 174 is subject to section 135.

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