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Reserve Bank of New Zealand Act 2021

Central bank functions - Monetary policy - Order providing for different economic objective or objectives

126: Minister must consider replacing or amending MPC remit

You could also call this:

"The Minister must think about changing the rules for the Reserve Bank."

Illustration for Reserve Bank of New Zealand Act 2021

You need to know what the Minister has to do with the MPC remit. The Minister must think about changing the MPC remit before giving advice under section 125(1). The Minister also has to think about changing the MPC remit before an order under section 125 is cancelled.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS473367.

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125: Order providing for different economic objective or objectives, or

"Temporary change to the country's economic goals"

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127: Period may be extended, or

"The time limit can be made longer if needed."

Part 3Central bank functions
Monetary policy: Order providing for different economic objective or objectives

126Minister must consider replacing or amending MPC remit

  1. The Minister must, before giving advice under section 125(1), consider whether the MPC remit should be amended, replaced, or remain in force without amendment.

  2. The Minister must, before an order under section 125 is revoked, consider whether the MPC remit should be amended, replaced, or remain in force without amendment.