Reserve Bank Act 1959
In plain English
The Reserve Bank Act 1959 establishes the Reserve Bank of Australia and outlines its functions and powers.
This Act establishes the Reserve Bank of Australia. It sets out the Bank’s functions, including monetary policy. It also details how the Bank is to be managed. The Act applies to the Reserve Bank and its officers. It came into force in 1959.
Why it matters
This Act impacts Australian businesses through the Reserve Bank's influence on interest rates and financial stability. Understanding its role helps businesses manage financial risk and plan effectively.
AI-assisted summary, grounded in the source link below. Generated 2026-05-23 via gemma3:12b.
Summary
Establishes RBA. Payment Systems (Regulation) Act 1998 underpins RBA payments oversight.
Topics
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Source: https://www.legislation.gov.au/C2004A07140/latest. Rules Mate summarises and links; we don't republish full statutory text. Always verify against the live source before acting.