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Part 2Reserve Bank of New Zealand
Governor

95When Governor ceases to hold office

  1. The Governor ceases to hold office if—

  2. the Governor dies; or
    1. the Governor becomes disqualified from being a Governor under section 87; or
      1. the Governor is removed from office in accordance with section 90; or
        1. the Governor resigns in accordance with section 94; or
          1. the Governor’s term of office expires, unless the Governor is reappointed for a further term (see also section 86, which allows the term to be extended); or
            1. the board advises the Minister in writing that the person holding office as Governor has been substantially unable to carry out the functions and responsibilities of the Governor due to illness or other incapacity for a total consecutive period of 3 months or more; or
              1. the Governor otherwise ceases to hold office in accordance with any legislation.

                1. Subsection (1)(f) does not apply if the Minister gives a notice to the Bank that that provision does not apply in the particular circumstances.