New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The Bank shall deliver to the Minister and publish, in accordance with subsection (1A), policy statements for the period of 6 months from and after the date of publication.
(1A) The Bank shall deliver and publish a policy statement on or before 1 October 1990 and thereafter at intervals not exceeding 6 months from the date of publication of each preceding statement.
(1B) The Bank shall, if directed to do so by the Minister, in addition to its obligation under subsection (1), deliver to the Minister and publish policy statements at such intervals and for such periods as may be specified in the direction.
(2) The policy statement shall be signed by the Governor and shall—
(a) specify the policies and means by which the Bank intends to achieve the policy targets fixed under section 9:
(b) state the reasons for adopting those policies and means:
(c) contain a statement of how the Bank proposes monetary policy might be formulated and implemented during the next 5 years:
(d) contain a review and assessment of the implementation by the Bank of monetary policy during the period to which the preceding policy statement relates.
(3) Every policy statement stands referred, by virtue of this section, to the House of Representatives.
Section 15(1): substituted, on 8 August 1990, by section 2 of the Reserve Bank of New Zealand Amendment Act 1990 (1990 No 96).
Section 15(1A): inserted, on 8 August 1990, by section 2 of the Reserve Bank of New Zealand Amendment Act 1990 (1990 No 96).
Section 15(1B): inserted, on 8 August 1990, by section 2 of the Reserve Bank of New Zealand Amendment Act 1990 (1990 No 96).
Section 15(3): substituted, on 25 January 2005, by section 37(1) of the Public Finance Amendment Act 2004 (2004 No 113).