Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Governor

91: Board must advise Minister of just cause and may recommend removal

You could also call this:

"The Bank's board must tell the Minister if they find a good reason to remove the Governor."

Illustration for Reserve Bank of New Zealand Act 2021

You are part of the Reserve Bank of New Zealand. The board checks if there is a good reason to remove the Governor. If they find a good reason, they must tell the Minister in writing. They can also suggest that the Governor be removed from their job. The board can make this decision quickly and fairly, following the principles of natural justice. They must consider the matter properly before making a decision. This rule does not apply to some specific reasons for removal, which are mentioned in section 92(1)(b), (d), and (e). You can look at similar rules from the past, like the one mentioned in the 1986 legislation, to understand how this rule works.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS294025.

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90: Removal of Governor from office, or

"The Governor can be removed from their job by the Governor-General for a good reason."


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92: Just cause for removal of Governor, or

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

Part 2Reserve Bank of New Zealand
Governor

91Board must advise Minister of just cause and may recommend removal

  1. If the board is satisfied that there is just cause for the removal of the Governor, the board—

  2. must advise the Minister in writing; and
    1. may recommend to the Minister that the Governor be removed from office.
      1. The board may act under this section 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. This section does not apply to the causes referred to in section 92(1)(b), (d), and (e).

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