The Minister and the Reserve Bank of New Zealand must make sure a framework is in place at all times. You can think of a framework like a set of rules that helps them manage foreign reserves. They have to do this after they agree and sign the first framework, which is explained in clause 13 of Schedule 1.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS325413.
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144: Form and publication of framework, or
"The plan must be written, dated, and signed, then published on the Reserve Bank's website."
146: Minister must have regard to framework when issuing direction under section 134, or
"The Minister must consider the framework before giving a direction."
The Minister and the Bank must take all reasonable steps to ensure that a framework is in force at all times.
This section applies only after the first framework is agreed and signed (see clause 13 of Schedule 1).
