Commonwealth Consolidated Acts

RESERVE BANK ACT 1959

TABLE OF PROVISIONS

           Long Title

   PART I--PRELIMINARY

   1.      Short title  
   2.      Commencement  
   4.      Repeal and saving  
   5.      Interpretation  
   6.      Application to Territories  
   6A.     Cessation of application to Territory  
   6B.     Application of Criminal Code  

   PART II--CONSTITUTION--, POLICY AND MANAGEMENT OF THE RESERVE BANK

           Division 1--Constitution of the Reserve Bank

   7.      The Reserve Bank of Australia  
   7A.     Application of the Public Governance, Performance and Accountability Act 2013  
   7B.     Disclosure of interests by members of the Reserve Bank Board in relation to certain matters  
   7C.     Other disclosures of material personal interests by members of the Reserve Bank Board and the Payments System Board  
   8.      General powers  

           Division 2--Policy and management of the Reserve Bank

   8A.     The Boards of the Bank  
   9.      Establishment of Reserve Bank Board  
   10.     Functions of Reserve Bank Board  
   10A.    Establishment of Payments System Board  
   10B.    Functions of Payments System Board  
   10C.    Resolving differences between the Boards  
   11.     Differences of opinion with Government on questions of policy  
   12.     Management of the Bank  
   13.     Governor and Secretary to Treasury to establish liaison  

   PART III--THE--RESERVE BANK BOARD AND THE GOVERNOR AND DEPUTY GOVERNOR OF THE BANK

   14.     Membership of Reserve Bank Board  
   15.     Remuneration of members  
   16.     Declaration by members  
   17.     Disqualifications from membership  
   17A.    Resignation  
   18.     Termination of appointment  
   18A.    Leave of absence  
   20.     Chairperson and Deputy Chairperson  
   21.     Meetings of Reserve Bank Board  
   21A.    Exclusion of Governor and Deputy Governor from certain deliberations  
   22.     Secretary may nominate alternate to attend meetings of Reserve Bank Board  
   22A.    Conduct of meetings  
   22B.    Resolutions without meetings  
   24.     Governor and Deputy Governor  
   24A.    Terms and conditions of employment not provided for by Act  
   24B.    Resignation  
   25.     Vacation of Office  

   PART IIIA--THE--PAYMENTS SYSTEM BOARD

           Division 1--The members of the Payments System Board

   25A.    Membership of Payments System Board  
   25B.    Appointment of members  
   25C.    Chair of the Payments System Board  
   25D.    Deputy Chair of the Payments System Board  
   25E.    Declaration by members  

           Division 2--Meetings

   25F.    Meetings  
   25G.    Conduct of meetings  
   25H.    Resolutions without meetings  

           Division 3--Other administrative provisions

   25I.    Remuneration  
   25J.    Leave of absence  
   25K.    Resignation  
   25L.    Termination of appointment  
   25M.    Payments System Board's report to the Minister  

   PART IV--CENTRAL--BANKING

   26.     Reserve Bank to act as a central bank  
   27.     Bank to be banker for Commonwealth  
   28.     Capital  
   29.     Reserve Fund  
   30.     Profits  

   PART V--THE--NOTE ISSUE

   32.     Interpretation  
   34.     Issue, re - issue and cancellation of notes  
   35.     Denominations of notes  
   36.     Notes to be legal tender  
   37.     Signature on notes  
   43.     Bank not to issue notes other than Australian notes  
   44.     Other persons not to issue notes  

   PART VII--THE--RESERVE BANK SERVICE

   66.     The Reserve Bank Service  
   67.     Appointment of staff  
   68.     Consultants and other people engaged to perform services  

   PART VIII--MISCELLANEOUS

   74.     Head office  
   75.     Agents etc.  
   76.     Attorney of Bank  
   77.     Guarantee by Commonwealth  
   79.     Taxation  
   79A.    Secrecy  
   79B.    Secrecy: documents or information to which section 79A does not apply  
   82.     Returns  
   83.     Power to improve property and carry on business  
   84.     Execution of contracts  
   84A.    Protection from liability--crisis powers etc.  
   85.     The Reserve Bank's seal  
   85A.    Judicial notice of statistical information published by Bank  
   86.     Priority of debts due by other ADIs  
   87.     Validity of acts and transactions of Bank  
   89.     Regulations