New Zealand Legislation: Acts
Acts are laws made by Parliament
Reprint as at 10 May 2011
| Public Act | 1953 No 50 |
| Date of assent | 23 November 1953 |
Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.
A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.
This Act is administered in the Ministry of Commerce.
3A Deposit may be made by Lloyds of London
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
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9 Manner in which deposits to be made or withdrawn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13 Investment of cash deposits [Repealed]
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18 Statement by Registrar of Motor Vehicles [Repealed]
20A Prohibition against agent negotiating contracts of insurance
21 Prohibition against carrying on business
22 Further penalty for carrying on business after notice prohibiting
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
22F Secretary's powers of inspection
22G Disclosure of information and reports
22H Application of Official Information Act 1982 and Privacy Act 1993
22I Appeals from certain decisions
23 In any action incorporation of company need not be proved
24 Remuneration of Public Trust
An Act to consolidate and amend the law relating to deposits required from companies and persons carrying on various classes of insurance business
