22BReferences to Reserve Bank—direction by the Governor

##### 22B References to Reserve Bank—direction by the Governor (1) If, under section 22A: (a) the Governor delegates to a person a function or power of the Reserve Bank; and (b) the delegation makes a reference to the Reserve Bank in another provision of this Act inappropriate, whether for administrative reasons or any other reason; the Governor may, by signed instrument, direct that the provision is to have effect as if the reference to the Reserve Bank were a reference to the person referred to in paragraph (a). (2) If the Governor gives a direction in relation to a provision, the provision has effect in accordance with the direction while the direction is in force. (3) A direction: (a) comes into force: (i) unless subparagraph (ii) applies—on the day on which it is made; or (ii) if the direction specifies a later day as the day on which the direction comes into force—on the day so specified; and (b) continues in force until it is revoked. (4) The Governor may, by signed instrument, vary or revoke a direction. (5) An instrument making, varying or revoking a direction is a disallowable instrument for the purposes of section 46A of the Acts Interpretation Act 1901.