Bank Board

FUNCTIONS OF THE CENTRAL BANK OF BOUGAINVILLE BOARD 
The Primary function of the Central Bank of Bougainville Board as set out under Section 26 of the Act is to determine the policies of the Bank, other than the formulation and implementation of Monetary Policy and the Regulation of the financial system, which shall be the responsibility of the Governor.

MEETINGS OF THE CENTRAL BANK OF BOUGAINVILLE BOARD 
The Central Bank of Bougainville Board meets as often as the business of the Bank requires at such times and places as the Board determines or as the Governor, or in his absence the Deputy Governor, directs, but in any event not less frequently than once every three months.
At meetings of the Board, the Governor or in his absence a Deputy Governor designated by the Governor, shall preside.  The Board regulates its own procedure.

COMPOSITION OF THE CENTRAL BANK OF BOUGAINVILLE BOARD 
The Board of Central Bank of Bougainville consists of not less than nine or not more than eleven members.

The membership of the Board comprise:
(a) The Governor, ex officio; and 
(b) Each Deputy Governor, ex officio; and 
(c) Up to three persons appointed by the Head of State, acting on advice, by notice in the National Gazette being from persons of- 
(i) good moral standing; and 
(ii) generally recognized standing and professional experience in monetary and banking matters;  
(d) The following persons appointed by the Head of State acting on advice, by notice in the National Gazette:-
(i) the person who is elected Head of the Bougainville Council of Churches, ex officio; and 
(ii) the person holding the office of President of the Bougainville Chamber of Commerce, ex officio; and
(iii) the person holding the office of President of the Bougainville Trade Union Congress, ex officio; and 
(iv) the person holding the office of the President of the President of Certified Practicing Accountants of Bougainville, ex officio; and 
(v) the person holding the office of Chairman of the Securities Commission of Bougainville in accordance with the Securities Act 1997, ex officio, and
 
(vi)  Persons appointed by the Head of State, acting on advice, under (c) above hold office for a term of three(3) years. No person shall be appointed, or re-appointed to the office of member of the Board, or hold that office, if that person-
(a) is a member of Parliament; or
(b) is an insolvent who has not obtained a final order of discharge, or whose order of discharge has been suspended for a term not yet expired, or is subject to a condition not yet fulfilled; or
(c) is 70 years of age or over; or 
(d) is a person who would be prohibited from being a director or member or promoter of, or in any way whether directly or indirectly taking part in the management of, a company under any law of the Independent State of Bougainville; or
(e) is or becomes a person whose affairs are administered under any law relating to mental health.