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Reserve Bank of New Zealand Act 2021

Reserve Bank of New Zealand - Board of Bank and its members - Appointment, removal, and conditions of members

34: Former Governor may be appointed as member

You could also call this:

"A former Governor can join the board after a 3-year wait."

Illustration for Reserve Bank of New Zealand Act 2021

You can be appointed as a member of the board even if you used to be the Governor. This means you can still be chosen under section 27. Your previous time as Governor does not affect how long you can be a member under section 33. You cannot be appointed under section 27 for 3 years after you stop being the Governor. This rule applies to you if you have previously been the Governor. It does not matter how long you were the Governor, you still have to wait 3 years.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS468077.

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Part 2Reserve Bank of New Zealand
Board of Bank and its members: Appointment, removal, and conditions of members

34Former Governor may be appointed as member

  1. If a person (A) has previously served for a period as a member of the board in their capacity as the Governor,—

  2. that service does not prevent A from being subsequently appointed under section 27; and
    1. that period of service does not reduce any length of a term of office for A under section 33.

      1. However, A may not be appointed under section 27 during the 3-year period after A ceases to hold office as the Governor.