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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Governor

93: Process for removal of Governor

You could also call this:

"How the Governor of the Reserve Bank can be removed"

Illustration for Reserve Bank of New Zealand Act 2021

You can remove the Governor of the Reserve Bank of New Zealand. The Minister does this with as little formality as possible, while still being fair. They must consider the matter properly. The Minister can look at the process the board used under section 91 to decide what to do. They want to make sure they are being fair and considering the matter properly. This helps the Minister make a good decision.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS293926.

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"When the Governor of the Reserve Bank does something wrong, they can be removed from their job."

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Part 2Reserve Bank of New Zealand
Governor

93Process for removal of Governor

  1. The Minister may advise the removal of the Governor with as little formality and technicality, and as much expedition, as is permitted by—

  2. the principles of natural justice; and
    1. a proper consideration of the matter.

      1. The Minister may have regard to the process undertaken by the board under section 91 in considering what is required for the purposes of subsection (1)(a) and (b).

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