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Reserve Bank of New Zealand Act 2021

Miscellaneous provisions - Council of Financial Regulators

288: Members of council

You could also call this:

"Who is on the Reserve Bank council?"

Illustration for Reserve Bank of New Zealand Act 2021

The council has members including the Bank, the Financial Markets Authority, and the Treasury. You can also think of the Treasury as a government department that helps manage money. The department that looks after the Financial Markets Conduct Act 2013 is also a member, you can read more about this act on the Financial Markets Conduct Act 2013 webpage. Other groups can join the council if the chairperson agrees. These groups can leave the council if they want to, or the chairperson can ask them to leave. The chairperson can also decide how long a group is a member of the council. The council is made up of different members who work together, and they can change over time.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS321928.

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Part 6Miscellaneous provisions
Council of Financial Regulators

288Members of council

  1. The council consists of—

  2. the Bank; and
    1. the Financial Markets Authority; and
      1. the Treasury; and
        1. the department that, with the authority of the Prime Minister, is responsible for the administration of the Financial Markets Conduct Act 2013; and
          1. any other department, entity, or agency that joins the council with the agreement of a chairperson of the council.

            1. A department, an entity, or an agency referred to in subsection (1)(e) may—

            2. resign as a member of the council; or
              1. by written notice, be removed for any reason as a member of the council by a chairperson of the council; or
                1. be a member of the council for a term specified by a chairperson of the council (subject to paragraphs (a) and (b)).