Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Financial Sector Legislation Amendment Bill (No. 1) 2000
Schedule 2 Reserve Bank Act 1959

   

1  Subsection 5(1) (definition of officer of the Reserve Bank Service )

Repeal the definition.

2  Subsection 5(1) (definition of officer or officer of the Bank )

Repeal the definition.

3  Subsection 5(1)

Insert:

staff member of the Reserve Bank Service means:

                     (a)  a person appointed by the Bank under section 67; or

                     (b)  a person engaged by the Bank under section 68.

4  Subsection 14(6) (paragraph (a) of the definition of official )

Repeal the paragraph, substitute:

                     (a)  a staff member of the Reserve Bank Service; or

5  Subsection 25B(1)

Omit “an officer”, substitute “a staff member”.

6  Paragraph 25L(1)(b)

Omit “an officer”, substitute “a staff member”.

7  Subsection 37(1)

Omit “an officer of the Bank”, substitute “a staff member of the Reserve Bank Service”.

8  Sections 66 to 69

Repeal the sections, substitute:

66   The Reserve Bank Service

                   The persons appointed, engaged or assisting the Bank under this Part constitute the Reserve Bank Service.

67   Appointment of staff

             (1)  The Bank may appoint such staff as the Bank considers necessary for the performance of its functions.

             (2)  The terms and conditions of appointment (including as to remuneration) are to be determined by the Bank.

68   Consultants and other people engaged to perform services

             (1)  The Bank may engage consultants, or other people, that are suitably qualified to provide advice to it or perform services for it.

             (2)  The terms and conditions of engagement (including as to remuneration) are to be determined by the Bank.

9  Transitional provision for staff of the Reserve Bank

(1)       A person appointed as an officer or a temporary or casual employee under Part VII of the Reserve Bank Act 1959 as in force immediately before the commencement of this item and whose appointment is in force immediately before that commencement, is taken to have been appointed as a member of the Reserve Bank Service under section 67 of that Act as in force immediately after the commencement of this item.

(2)       The rights and entitlements of a person covered by subitem (1) are not affected merely because they cease to be appointed under Part VII of the Reserve Bank Act 1959 as in force immediately before the commencement of this item and are taken to have been appointed under section 67 of that Act as in force immediately after the commencement of this item.

10  Sections 71 and 73

Repeal the sections.

11  Subsection 79A(1) (paragraphs (b) and (c) of the definition of officer )

Repeal the paragraphs, substitute:

                     (b)  a staff member of the Reserve Bank Service; or

12  Paragraph 79A(5)(b)

Omit “an officer of the Reserve Bank”, substitute “a staff member of the Reserve Bank Service”.

13  Paragraphs 79A(6)(b) and (c)

Repeal the paragraphs, substitute:

                     (b)  a staff member of the Reserve Bank Service;

14  Subsection 79B(1)

Omit “an officer, agent or other person carrying on any business of the Reserve Bank”, substitute “a staff member of the Reserve Bank Service, or an agent or other person carrying on any business of the Reserve Bank,”.