The Governor of the Reserve Bank of New Zealand gets paid from the Bank's funds. The amount they get is decided by the Remuneration Authority, following the Remuneration Authority Act 1977. You can find more information about this Act on the Remuneration Authority Act 1977 website. The Governor's other work conditions are agreed on by the Bank's board and the Governor. This does not include how much they get paid, as that is decided by the Remuneration Authority. The board and the Governor work together to decide these conditions. The Governor and the board make decisions about the Governor's job together, except for pay. The Remuneration Authority decides the pay, and the board and Governor decide the rest. This is how the Governor's work conditions are sorted out.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS325477.
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The Governor is entitled to receive, from the funds of the Bank, remuneration at a rate and of a kind determined by the Remuneration Authority in accordance with the Remuneration Authority Act 1977.
The terms and conditions of appointment of the Governor (other than remuneration) must be determined by agreement between the board and the Governor.
