Commonwealth Consolidated Acts

RESERVE BANK ACT 1959 - SECT 10C

             (1)  If a policy determined by the Reserve Bank Board and a policy determined by the Payments System Board are inconsistent:

                     (a)  the Reserve Bank Board's policy prevails; and

                     (b)  the Payments System Board's policy has effect as if it were modified to remove the inconsistency.

             (2)  If there is a disagreement between the Reserve Bank Board and the Payments System Board as to:

                     (a)  whether there is an inconsistency of policy to which subsection (1) applies, or the extent of such an inconsistency; or

                     (b)  the effect of paragraph (1)(b) on a policy of the Payments System Board;

the disagreement is to be resolved as determined by the Governor.

             (3)  If there is a disagreement between the Reserve Bank Board and the Payments System Board as to which of the Boards is responsible for determining the Bank's policy on a matter, the disagreement is to be resolved as determined by the Governor.