Federal Register of Legislation - Australian Government

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Reserve Bank Regulation 2016

Authoritative Version
Regulations as made
This regulation remakes with minor amendments the Reserve Bank Regulations and extends the information-sharing capability of the Reserve Bank of Australia.
Administered by: Treasury
Registered 09 May 2016
Tabling HistoryDate
Tabled HR30-Aug-2016
Tabled Senate30-Aug-2016

 

Reserve Bank Regulation 2016

I, General the Honourable Sir Peter Cosgrove AK MC (Ret’d), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulation.

Dated 05 May 2016

Peter Cosgrove

Governor‑General

By His Excellency’s Command

Scott Morrison

Treasurer

 

  

  

  


Contents

Part 1—Preliminary                                                                                                                                        1

1............ Name............................................................................................................................. 1

2............ Commencement............................................................................................................. 1

3............ Authority....................................................................................................................... 1

4............ Schedules...................................................................................................................... 1

5............ Definitions..................................................................................................................... 1

Part 2—Secrecy                                                                                                                                                 2

6............ Declarations of secrecy.................................................................................................. 2

7............ Prescribed bodies—disclosure of protected information or documents......................... 2

Schedule 1—Form for declaration of secrecy by Reserve Bank Board member            3

Schedule 2—Form for declaration of secrecy by Payments System Board member  4

Schedule 3—Repeals                                                                                                                                       5

Reserve Bank Regulations                                                                                                                    5

 


Part 1Preliminary

  

1  Name

                   This is the Reserve Bank Regulation 2016.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

10 May 2016

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the Reserve Bank Act 1959.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

5  Definitions

                   In this instrument:

Act means the Reserve Bank Act 1959.

Part 2Secrecy

  

6  Declarations of secrecy

             (1)  For subsection 16(1) of the Act, the prescribed form for a declaration of secrecy by a member of the Reserve Bank Board is the form in Schedule 1.

             (2)  For paragraph 25E(3)(a) of the Act, the prescribed form for a declaration of secrecy by a member of the Payments System Board is the form in Schedule 2.

7  Prescribed bodies—disclosure of protected information or documents

                   For 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 1Form for declaration of secrecy by Reserve Bank Board member

Note:       See subsection 6(1).

  

Reserve Bank Act 1959

I,                             of,                                 a member of the Reserve Bank Board, do solemnly and sincerely declare that I will at all times maintain secrecy in relation to the affairs of the Reserve Bank Board and of the Reserve Bank of Australia 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 as a member of the Reserve Bank Board, except by authority of the Reserve Bank 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.]

Schedule 2Form for declaration of secrecy by Payments System Board member

Note:       See subsection 6(2).

  

Reserve Bank Act 1959

I,                                 of,                                    a member of the Payments System Board, do solemnly and sincerely declare that I will at all times maintain secrecy in relation to the affairs of the Payments System Board and of the Reserve Bank of Australia 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 as a member of the Payments System Board, except by authority of the Payments System 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.]


Schedule 3Repeals

  

Reserve Bank Regulations

1  The whole of the regulations

Repeal the Regulations.