New Zealand Legislation: Acts
Acts are laws made by Parliament
(1) The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations for the following purposes:
(a) providing for matters that may be treated by the Minister as a significant breach of an instrument of appointment for the purposes of section 184(2):
(b) providing for procedures for the purpose of—
(i) the Minister notifying a default KiwiSaver provider that the Minister considers the provider is in breach of a term or condition of the instrument of appointment and the possible consequences:
(ii) facilitating resolution of any dispute between the Minister and a default KiwiSaver provider about whether the KiwiSaver provider is in breach of the instrument of appointment or the consequences that should apply:
(iii) setting out any procedures that will apply before revocation of an instrument of appointment by the Minister under section 184(2):
(c) requiring the provider of a scheme that is or was a scheme provided under an instrument of appointment to do any act or thing following any terminating event under section 185 including, without limitation,—
(i) requiring the members of the scheme to be notified of the terminating event or of any other matter and specifying time frames for notification to occur:
(ii) prescribing any advice, information, or documents that must accompany any notification given under subparagraph (i):
(iii) requiring the provider to do any act or thing or carry out any prescribed procedures to facilitate or enable the transfer of members to another KiwiSaver scheme in accordance with this Act:
(iv) requiring the provider to report to any specified person or persons, or to produce to any specified person or persons, any papers, documents, records, or things in respect of the scheme, at specified times or contingent on any specified events:
(d) requiring the provider of any new scheme to which members are or are to be transferred from a scheme that is subject to a terminating event under section 185 to do any act or thing or to carry out any prescribed procedures to facilitate or enable the transfer of members to the provider’s KiwiSaver scheme.
(2) However, regulations made under subsection (1)(c)(iii) may not require a provider to report to any person or produce any papers, documents, or records, after the provider’s scheme no longer has any members who became members of the scheme under section 52.
