Earthquake Commission Regulations 1993

Reprint as at 7 September 2017

Coat of Arms of New Zealand

Earthquake Commission Regulations 1993

(SR 1993/345)

Catherine A Tizard, Governor-General

Order in Council

At Wellington this 20th day of October 1993

Present:
The Right Hon W F Birch presiding in Council

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

These regulations are administered by the Treasury.

Pursuant to section 36 of the Earthquake Commission Act 1993, Her Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby makes the following regulations.

Regulations

1 Title and commencement

(1)

These regulations may be cited as the Earthquake Commission Regulations 1993.

(2)

These regulations shall come into force on 1 January 1994.

2 Interpretation

In these regulations, unless the context otherwise requires,—

Expressions defined in the Act have the same meanings in these regulations.

2A Transitional, savings, and related provisions

The transitional, savings, and related provisions set out in Schedule 1 have effect according to their terms.

Regulation 2A: inserted, on 7 September 2017, by regulation 4 of the Earthquake Commission Amendment Regulations 2017 (LI 2017/170).

3 Premiums

(1)

The premium payable in respect of the insurance of any residential building or personal property under the Act is,—

(a)

where the period of insurance is 1 year, 20 cents (plus goods and services tax) for every $100 of the relevant amount:

(b)

in the case of any other period of insurance, a pro rata proportion (on a daily basis) of the amount calculated in accordance with paragraph (a), rounded to the nearest 5 cents.

(1A)

[Revoked]

(2)

In subclause (1), the term relevant amount means—

(a)

in the case of insurance of a residential building, the amount to which the property is insured under section 18(1) of the Act:

(b)

in the case of insurance of personal property, the amount to which the property is insured under section 20 of the Act.

(3)

No premium is payable in respect of the insurance of any residential land under the Act.

(4)

Subject to subclauses (1) to (3), the Commission may from time to time make and issue determinations relating to the method of calculation of premiums in respect of any class of insurance, class of property, or clauses or wordings contained in contracts of insurance.

Regulation 3(1): substituted, on 1 December 2011, by regulation 4 of the Earthquake Commission Amendment Regulations 2011 (SR 2011/379).

Regulation 3(1)(a): amended, on 7 September 2017, by regulation 5(1) of the Earthquake Commission Amendment Regulations 2017 (LI 2017/170).

Regulation 3(1A): revoked, on 7 September 2017, by regulation 5(2) of the Earthquake Commission Amendment Regulations 2017 (LI 2017/170).

4 Excess

(1)

For the purposes of clause 1 of Schedule 3 of the Act, and subject to subclause (2) of this regulation, the excess is—

(a)

residential building—$200 multiplied by the number of dwellings in the building, or 1% of the amount payable under section 29 of the Act, whichever is greater:

(b)

residential land—$500 multiplied by the number of dwellings in the residential building which is situated on the land, or 10% of the amount payable under section 29 of the Act, whichever is greater, to a maximum of $5,000:

(c)

personal property—$200.

(2)

Where a claim is made by the same person in respect of damage to a residential building and damage to personal property located in or on that building caused by the same natural disaster damage, the excess applicable to the claim is $200 multiplied by the number of dwellings in the building, or 1% of the amount payable under section 29 of the Act, whichever is greater.

(3)

For the purposes of this regulation, the number of dwellings in a residential building is the number determined in accordance with section 18(3) of the Act.

5 Reinstatement of insurance on payment of claim

For the purposes of clause 6 of Schedule 3 of the Act, the amount which the Commission is entitled to charge an insured person (or deduct from a payment to an insured person in respect of a claim under the Act) for the continuation of the insurance, after making a payment in respect of a claim, shall be calculated in accordance with the following formula:

formula

where—

a

is the amount of that payment; and

b

is the maximum amount for which the property is insured under the Act; and

c

is the amount of premium paid for the insurance under the Act; and

d

is the number of days from the date of the claim to the date on which the insurance expires.

6 Longer time for reporting of claims

Three months is prescribed as a longer time within which a notice of claim may be given under clause 7(1)(a) of Schedule 3 of the Act.

Regulation 6: added, on 4 October 2010, by regulation 4 of the Earthquake Commission Amendment Regulations 2010 (SR 2010/348).

Schedule 1 Transitional, savings, and related provisions

r 2A

Schedule 1: inserted, on 7 September 2017, by regulation 6 of the Earthquake Commission Amendment Regulations 2017 (LI 2017/170).

Part 1 Provisions relating to Earthquake Commission Amendment Regulations 2017

1 Savings and related provision for contracts of insurance made before 1 November 2017

(1)

Subclause (2) applies in the case of a premium that is payable—

(a)

in respect of the insurance of any residential building or personal property under the Act; and

(b)

under a contract of fire insurance made before 1 November 2017 that provides cover for a period of insurance that commences before 1 November 2017.

(2)

Regulation 3(1)(a), as in force immediately before the amendment made by regulation 5(1) of the Earthquake Commission Amendment Regulations 2017, continues to apply in respect of the premium payable.

(3)

The Commission’s power under regulation 3(4) is subject to this clause.

Diane Wilderspin,
Acting for Clerk of the Executive Council.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 22 October 1993.

Reprints notes
1 General

This is a reprint of the Earthquake Commission Regulations 1993 that incorporates all the amendments to those regulations as at the date of the last amendment to them.

2 Legal status

Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes

Editorial and format changes to reprints are made using the powers under sections 24 to 26 of the Legislation Act 2012. See also http://www.pco.parliament.govt.nz/editorial-conventions/.