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Reserve Bank Board Policy Order 2019

Instrument No. 9 of 2019. Made under the Reserve Bank Act 1959. Made by /u/ElectrumNS. Made 2019-06-03. Disallowed 2019-06-05.

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C2019L00009

COMMONWEALTH OF AUSTRALIA


Reserve Bank Act 1959

RESERVE BANK BOARD POLICY ORDER

I, ElectrumNS, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following order to the Reserve Bank Board under section 11 of the Reserve Bank Act 1959:

  1. The Board shall, without delay, acquire at least a ninety-percent share of ownership of the entities identified by the Australian Securities and Investments Commission (Authorised Deposit-taking Institutions) Direction 2019.

  2. The Board shall purchase these shares at a fair market rate on 4 June 2019.

  3. The Reserve Fund shall provide the amount required for the operation of this order.

Dated 3 June 2019

ElectrumNS

Governor-General

By His Excellency’s Command

FinePorpoise

Minister for Finance, delegated by the Treasurer