Reserve Bank Regulation 2016

Reserve Bank Regulation 2016

made under the

Reserve Bank Act 1959

Compilation No. 1

Compilation date: 1 March 2025

Includes amendments: F2025L00091

About this compilation

This compilation

This is a compilation of the Reserve Bank Regulation 2016 that shows the text of the law as amended and in force on 1 March 2025 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents

Part 1—Preliminary

1 Name

3 Authority

5 Definitions

Part 2—Secrecy

6 Declarations of secrecy

7 Prescribed bodies—disclosure of protected information or documents

Schedule 1—Form for declaration of secrecy by Board members

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Part 1—Preliminary

1  Name

  This is the Reserve Bank Regulation 2016.

3  Authority

  This instrument is made under the Reserve Bank Act 1959.

5  Definitions

  In this instrument:

Act means the Reserve Bank Act 1959.

Part 2—Secrecy

6  Declarations of secrecy

  For the purposes of paragraphs 25AJ(3)(a), 25E(3)(a) and 25NJ(3)(a) of the Act, the prescribed form for a declaration of secrecy by a member of the Monetary Policy Board, Payments System Board or Governance Board is the form in Schedule 1 to this instrument.

7  Prescribed bodies—disclosure of protected information or documents

  For the purposes of paragraph 79A(4)(c) of the Act, the following bodies are prescribed:

 (a) the Department;

 (b) the Australian Bureau of Statistics;

 (c) the Australian Competition and Consumer Commission;

 (d) the Bank for International Settlements;

 (e) the following bodies operating under the Bank for International Settlements:

 (i) the Basel Committee on Banking Supervision;

 (ii) the Committee on the Global Financial System;

 (iii) the Committee on Payments and Market Infrastructures;

 (iv) the Markets Committee;

 (f) any body, however described, operating under a body mentioned in subparagraph (e)(i), (ii), (iii) or (iv);

 (g) the Financial Stability Board and any body, however described, operating under the Board’s Charter;

 (h) the International Monetary Fund;

 (i) The Treasury (New Zealand).

Schedule 1—Form for declaration of secrecy by Board members

Note: See section 6.

Reserve Bank Act 1959

I, [name] of [address], a member of one or more of the Bank’s Boards, solemnly and sincerely declare that I will at all times maintain secrecy in relation to the affairs of the Bank’s Boards and of the Bank and, in particular, that I will not directly or indirectly communicate or divulge any information that comes to my knowledge in the performance of my functions or duties, or the exercise of my powers, as a member of a Board of the Bank, except by authority of that Board or under compulsion or obligation of law.

[Signature of declarant]

Declared at [place] on [date].

Before me,

 Justice of the Peace.

 [or Commissioner for taking Affidavits.]

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Editorial changes

The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date.

If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe how an amendment is to be made. If, despite the misdescription, the amendment can be given effect as intended, then the misdescribed amendment can be incorporated through an editorial change made under section 15V of the Legislation Act 2003.

If a misdescribed amendment cannot be given effect as intended, the amendment is not incorporated and “(md not incorp)” is added to the amendment history.

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history