187Appointment of inspector

187 Appointment of inspector

(1) The Reserve Bank may, in writing, appoint any of the following persons as an inspector for the purposes of this Part:

(a) a person appointed by the Reserve Bank under section 67 of the Reserve Bank Act 1959;

(b) a person engaged by the Reserve Bank under section 68 of that Act.

(2) The Reserve Bank must not appoint a person as an inspector unless the Reserve Bank is satisfied that the person has the knowledge or experience necessary to properly exercise the powers of an inspector.

(3) An inspector must, in exercising powers as such, comply with any directions of the Reserve Bank.

(4) If a direction is given under subsection (3) in writing, the direction is not a legislative instrument.