Reserve Bank Act 1959
25NRQuorum
Start here
Get a plain-English read of 25NR
Turn the raw legal text into a practical explanation grounded in Reserve Bank Act 1959.
25NR Quorum
(1) At a meeting of the Governance Board, a quorum is constituted by 7 members of the Board. (2) However, if: (a) one or more members of the Governance Board are prevented from being present during the deliberations, or taking part in any decision, of the Board with respect to a matter at the meeting: (i) in the case of the Governor, the Deputy Governor or the senior RBS member—by section 25NP; or (ii) in any case—by rules made for the purposes of section 29 of the Public Governance, Performance and Accountability Act 2013; and (b) as a result, there is no longer a quorum present when the member or members leave the meeting; the remaining members of the Board at the meeting constitute a quorum for the purpose of any deliberation or decision at that meeting with respect to that matter.