New Zealand Legislation: Acts
Acts are laws made by Parliament
Reprint as at 2 May 2008
| Public Act | 1994 No 117 |
| Date of assent | 25 November 1994 |
| Commencement | see section 1(2) |
Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.
A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.
This Act is administered by the Ministry of Economic Development.
1 Short Title and commencement
Part 1
Rating of insurance companies
5 Insurers to have current rating
7 Inspection of current ratings
8 Public notice to be given where rating downgraded
9 Certain insurers not required to have current rating
10 Disclosure of current rating to insured
11 Cancellation of insurance if current rating not disclosed
12 Disclosure by insurers not required to be rated
13 Cancellation of insurance if section 12 not complied with
14 Disclosure by insurance intermediaries effecting insurance outside New Zealand
15 Cancellation of insurance if section 14 not complied with
19 Agreement to govern ratings
24 Review of this Part and Insurance Companies’ Deposits Act 1953
Part 2
Inspection of insurance companies
26 Registrar’s powers of inspection
27 Disclosure of information and reports
28 Application of Official Information Act 1982 and Privacy Act 1993
29 Appeals from decisions under section 28
30 Inspector’s report admissible in liquidation proceedings
31 Appeals against exercise of powers under section 26
32 Exercise of powers under section 26 not affected by appeal
33 Application for shares in, or membership of, company not to be contained in proposal for insurance
An Act to provide for—
(a) the rating of the claims paying ability of insurers in relation to the business of insurance except life insurance; and
(b) inspections of insurance companies of doubtful solvency
