The MPC was reconstituted, for the second time, in December 2012 and the total number of members was reduced from nine to eight, comprising namely, the Governor, the two Deputy Governors, two members appointed by the Prime Minister, and three members appointed by the Minister of Finance and Economic Development.
It was also explicitly laid down in the Bank of Mauritius Act that the MPC has to take into consideration the views of the Bank, the Ministry, and any other appropriate institution. Furthermore, the MPC adopted a Code of Conduct for its members. During 2012–13, the MPC met on four occasions.