92Matters relating to Reserve Bank directions—manage or respond to crisis

92 Matters relating to Reserve Bank directions—manage or respond to crisis

Variation or revocation

(1) The Reserve Bank may, in writing, vary a direction given under subsection 91(1) if the Reserve Bank reasonably believes that the direction, as varied, would be appropriate to manage or respond to a condition in section 90 being satisfied in relation to the relevant designated entity.

(2) The Reserve Bank may revoke a direction given under subsection 91(1) if the Reserve Bank no longer reasonably believes that the direction is appropriate to manage or respond to a condition in section 90 being satisfied in relation to the relevant designated entity, including because the condition is not satisfied.

(3) The variation or revocation must be given to the person in writing.

Directions are not legislative instruments

(4) A direction given under subsection 91(1), a variation under subsection (1) of this section or a revocation under subsection (2) of this section is not a legislative instrument.