Document ID: chunk:federal_register_of_legislation:C2024C00696:section:10
Version: federal_register_of_legislation:C2024C00696
Segment Type: section
Provision Reference: s 10
Character Range: 17605–18612

10  Functions of Reserve Bank Board
 (1) Subject to this Part, the Reserve Bank Board has power to determine the policy of the Bank in relation to any matter, other than its payments system policy, and to take such action as is necessary to ensure that effect is given by the Bank to the policy so determined.
 (2) It is the duty of the Reserve Bank Board, within the limits of its powers, to ensure that the monetary and banking policy of the Bank is directed to the greatest advantage of the people of Australia and that the powers of the Bank under this Act and any other Act, other than the Payment Systems (Regulation) Act 1998, the Payment Systems and Netting Act 1998 and Parts 7.3 and 7.3B of the Corporations Act 2001, are exercised in such a manner as, in the opinion of the Reserve Bank Board, will best contribute to:
 (a) the stability of the currency of Australia;
 (b) the maintenance of full employment in Australia; and
 (c) the economic prosperity and welfare of the people of Australia.