Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) There shall be a Governor of the Bank and a Deputy Governor of the Bank, who shall be appointed and hold office as provided by Part III.
(2) The Governor is responsible for the day - to - day management of the Bank. The Governor must fulfil the responsibility consistently with Division 3 (about the Bank's Boards).
(3) The Deputy Governor shall perform such duties as the Governor directs and, in the event of a vacancy in the office of Governor, the Deputy Governor shall perform the duties of the Governor and shall have and may exercise the powers and functions of the Governor.