This Act is administered in the Ministry of Commerce
Title
1 Short Title
2 Interpretation
3 Liability to make deposits
3A Deposit may be made by Lloyds of London
4 Amount of deposit
4A Amount of deposit to be made by agent of Commonwealth company or foreign company
4B Public Trust may accept single deposit in certain cases
5 Smaller deposits permitted in certain cases
6 Deposits to be made by mutual insurance associations
6A Deposits by existing companies carrying on mortgage guarantee insurance business
6B Deposits by companies proposing to carry on fidelity guarantee insurance or professional liability indemnity insurance
7 When deposits to be made
8 Deposits to be in approved securities
9 Manner in which deposits to be made or withdrawn
10 Increase of deposits where securities have depreciated
11 Valuation of approved securities
12 Deposits to be held in trust for policyholders
12A Application of securities by Public Trust
12B Liquidator to value policies in winding up
12C Liquidator to distribute securities
12D Section 12(4) not to apply where company in liquidation
13 Investment of cash deposits [Repealed]
14 Income from deposits
15 Cover notes and receipts to refer to deposit
16 Statements to be supplied annually
17 Penalty for false statement
18 Statement by Registrar of Motor Vehicles [Repealed]
19 Withdrawal of deposits
20 Penalty for non-compliance
20A Prohibition against agent negotiating contracts of insurance
21 Prohibition against carrying on business
22 Further penalty for carrying on business after notice prohibiting
22A Interpretation
22B Certain New Zealand persons and overseas companies prohibited from holding out New Zealand connection
22C Certain New Zealand persons and overseas companies prohibited from using certain words in their name
22D Exception for certain insurance workers and industry associations
22E Exemption from section 22C granted by Secretary
Information gathering powers
22F Secretary's powers of inspection
22G Disclosure of information and reports
22H Application of Official Information Act 1982 and Privacy Act 1993
Appeals
22I Appeals from certain decisions
23 In any action incorporation of company need not be proved
24 Remuneration of Public Trust
25 Repeals and savings
26 Regulations
Schedule 1Amounts of deposits to be made
Schedule 2
Schedule 3Enactments repealed
An Act to consolidate and amend the law relating to deposits required from companies and persons carrying on various classes of insurance business