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Reserve Bank of New Zealand Act 2021

Central bank functions - Foreign exchange - Foreign reserves management and co-ordination framework

146: Minister must have regard to framework when issuing direction under section 134

You could also call this:

"The Minister must consider the framework before giving a direction."

Illustration for Reserve Bank of New Zealand Act 2021

When you are the Minister and you want to give a direction under section 134, you must think about the framework first. You need to consider the framework before making a decision about the direction. The framework is important when you are making decisions about giving directions under section 134.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS321243.

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145: Minister and Bank must ensure framework is in force, or

"The Minister and Reserve Bank must have rules in place to manage foreign reserves."

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147: Review of framework, or

"Checking and improving the banking rules"

Part 3Central bank functions
Foreign exchange: Foreign reserves management and co-ordination framework

146Minister must have regard to framework when issuing direction under section 134

  1. The Minister must have regard to the framework before issuing a direction under section 134.