The Bank can issue standards if it thinks they are necessary or desirable for the purposes of this Act. You can think of standards like rules that help achieve the goals of the Act. The Bank must follow the rules in this part of the Act when issuing standards.
The standards the Bank issues are considered secondary legislation, which means they have special status. To learn more about what this means, you can look at Part 3 of the Legislation Act 2019 to see the rules about publishing these standards.
When the Bank issues standards, they must be published according to the rules set out in the Legislation Act 2019.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS471894.
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The Bank may, in accordance with this subpart, issue standards if the Bank is satisfied that the standards are necessary or desirable for 1 or more of the purposes of this Act.
Standards issued under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).
