Treasury Laws Amendment (Reserve Bank Reforms) Act 2024 (96 of 2024)

Schedule 1   Amendments

Part 4   RBA's Boards and governance

Reserve Bank Act 1959

38   At the end of Division 1 of Part IIIA

Add:

25EA Independence of Board members

Subject to this Act and to other laws of the Commonwealth, each person who is a member of the Payments System Board, in performing the person's functions and duties and exercising the person's powers as a member of the Board:

(a) has complete discretion; and

(b) is not subject to direction from anyone (including direction from the Government); and

(c) must act in an independent and impartial manner.