New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The Governor-General may, by Order in Council, make regulations for all or any of the following purposes:
(a) prescribing forms for the purpose of this Act, and prescribing—
(i) specified information or documents to be included or attached to forms:
(ii) forms to be signed by specified persons:
(b) prescribing requirements with which documents that are sent, given, or delivered must comply (including documents sent, given, or delivered for registration) and prescribing information that must be included in any notice given under this Act that is in addition to the information specified in this Act:
(ba) prescribing the information and matters that must be included in the trust deed of a KiwiSaver scheme:
(bb) subject to subsection (2), prescribing provisions to be implied in the trust deed of a KiwiSaver scheme:
(c) prescribing fees payable to the Commissioner or the FMA in respect of any matter under this Act or the manner in which fees may be calculated:
(d) prescribing procedures, requirements, and other matters for the KiwiSaver schemes register, including matters relating to—
(i) the operation of that register:
(ii) access to that register:
(iii) the location of, and hours of access to, that register:
(e) recognising specific foreign superannuation schemes or classes of specific foreign superannuation schemes that are based in named countries as schemes to which funds can be transferred on permanent emigration under the provision implied by clause 14 of the KiwiSaver scheme rules:
(f) prescribing circumstances for the purposes of clause 8(3)(a) of the KiwiSaver scheme rules or prescribing who is a qualifying person for the purpose of clause 8(3)(c)(ii) of the KiwiSaver scheme rules:
(fa) prescribing information, statements, certificates, or documents that must, or must not, be contained in or attached to the annual report prepared under section 123:
(g) prescribing requirements in relation to annual returns for the purposes of section 125, including the date by which the return must be provided and the 12-month period to which it must relate (by reference to annual dates):
(ga) prescribing information that must be included in annual personalised statements for members under section 125A:
(gb) prescribing how the information included in an annual personalised statement under section 125A must be presented, calculated, or prepared:
(h) prescribing the maximum number of persons that the Minister may appoint under section 177:
(i) specifying information that must be contained in the instrument of appointment referred to in section 177:
(j) prescribing the information or matters that must be included in the information packs referred to in Part 2:
(k) providing for operational matters and electronic compatibility between the Commissioner and all or any class of providers, including—
(i) requiring the Commissioner and all or any class of providers to sign scheme provider agreements before registration of a scheme as a KiwiSaver scheme; and
(ii) providing for the updating of those agreements after registration; and
(iii) specifying the matters that may be required to be covered in all or any of those agreements:
(l) prescribing circumstances for the purposes of section 169(1)(c):
(m) providing for fees or charges that must be treated as fees for the purposes of this Act:
(n) providing for the payment of fee subsidies in respect of members, or classes of members, of KiwiSaver schemes, and the setting of those fee subsidies or the manner in which those fee subsidies may be calculated (which may include mechanisms for capping fee subsidies):
(o) providing for when fee subsidies referred to in paragraph (n) may or will be paid, and terms and conditions relating to payment and to the application of those contributions and subsidies, and how those terms and conditions may be enforced:
(p) prescribing matters that are relevant to a determination or consideration as to whether a fee is unreasonable for the purposes of clause 2 of the KiwiSaver scheme rules or section 127:
(q) prescribing circumstances in which the purchase of an estate in land enables a withdrawal under clause 8 of the KiwiSaver scheme rules:
(r) prescribing matters that may be regarded as matters from which significant financial difficulties have arisen for the purposes of clause 11 of the KiwiSaver scheme rules:
(s) prescribing what must be treated as reasonable efforts for the purposes of section 204:
(t) exempting any person or class of persons or any transaction or class of transactions from compliance with any or all of the provisions of the Securities Act 1978 or any regulations made under that Act in connection with any or all KiwiSaver schemes:
(u) varying any requirements of regulations made under the Securities Act 1978 in relation to investment statements of KiwiSaver schemes or providing for additional requirements to those contained in regulations made under the Securities Act 1978 in relation to investment statements of KiwiSaver schemes:
(v) providing for any matters that are necessary for the administration of regulations made under paragraph (h) or (i) by the Department:
(w) providing for any transitional or savings matters concerning the coming into force of this Act:
(x) providing for any other matters contemplated by this Act, necessary for its administration, or necessary for giving it full effect.
(2) A provision prescribed for the purposes of subsection (1)(bb) may, without limitation, do any of the following:
(a) specify the duties and powers of the trustee of the scheme:
(b) specify the duties of the manager of the scheme:
(c) provide for the trustee of the scheme to have the power, exercisable with the consent of the manager of the scheme (but without requiring the consent of members), to make amendments to the trust deed that do not adversely affect the interests of members.
Section 228(1)(ba): inserted, on 1 May 2011, by section 53(1) of the KiwiSaver Amendment Act 2011 (2011 No 8).
Section 228(1)(bb): inserted, on 1 May 2011, by section 53(1) of the KiwiSaver Amendment Act 2011 (2011 No 8).
Section 228(1)(c): amended, on 1 May 2011, by section 85(1) of the Financial Markets Authority Act 2011 (2011 No 5).
Section 228(1)(fa): inserted, on 1 May 2011, by section 53(2) of the KiwiSaver Amendment Act 2011 (2011 No 8).
Section 228(1)(ga): inserted, on 1 May 2011, by section 53(3) of the KiwiSaver Amendment Act 2011 (2011 No 8).
Section 228(1)(gb): inserted, on 1 May 2011, by section 53(3) of the KiwiSaver Amendment Act 2011 (2011 No 8).
Section 228(1)(t): amended, on 1 May 2011, by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).
Section 228(2): added, on 1 May 2011, by section 53(4) of the KiwiSaver Amendment Act 2011 (2011 No 8).
