Insurance Companies (Ratings) Regulations 1995

Reprint
as at 2 June 1995

Crest

Insurance Companies (Ratings) Regulations 1995

(SR 1995/112)

Catherine A Tizard, Governor-General

Order in Council

At Wellington this 29th day of May 1995

Present:
The Right Hon D C McKinnon presiding in Council


Note

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.

These regulations are administered by the Ministry of Economic Development.


Pursuant to section 25 of the Insurance Companies (Ratings and Inspections) Act 1994, 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 Insurance Companies (Ratings) Regulations 1995.

    (2) These regulations shall come into force on the 28th day after the date of their notification in the Gazette.

2 Notice of election by insurer not to be rated and notice of revocation of election by insurer not to be rated
  • (1) A notice of election by an insurer not to be rated to be delivered to the Registrar for registration by an insurer under section 9(1)(b) of the Act shall be in form 1 of the Schedule.

    (2) A notice of revocation of an election by an insurer not to be rated to be delivered to the Registrar for registration by an insurer under section 9(2) of the Act shall be in form 2 of the Schedule.


Schedule

Form 1

r 2(1)

Insurance Companies (Ratings and Inspections) Act 1994

Notice of election by insurer not to be rated

Document No:

(for office use only)

 

Please note that the information in this form must be either typewritten or printed. It must not be handwritten.

 

Name of insurer:

Company No:

(To be provided only if the insurer is a company registered under the Companies Act 1955 or the Companies Act 1993.)

 

The abovenamed insurer, not being a party, in its capacity as an insurer, to a contract for any form of disaster insurance or general insurance, hereby elects not to be rated under the Insurance Companies (Ratings and Inspections) Act 1994.

Note: Section 9(3) of the Insurance Companies (Ratings and Inspections) Act 1994 provides that a notice of election not to be rated takes effect on the date specified in the notice or, if no date is specified, on the date on which the notice is registered. If a date is specified, it must not be a date that is earlier than the date on which the notice is delivered to the Registrar for registration.

If this notice is to take effect on a specified date, please specify the date below.

This notice takes effect on: [date]

Signed on behalf of insurer:

Name:

Date:

Presented by:

Postal address:

Account No:

Telephone:

Facsimile:


Form 2
Notice of revocation of election by insurer not to be rated

r 2(2)

(Section 9(2))

Document No:

(for office use only)

 

Please note that the information in this form must be either typewritten or printed. It must not be handwritten.

 

Name of insurer:

Company No:

(To be provided only if the insurer is a company registered under the Companies Act 1955 or the Companies Act 1993.)

 

By notice dated [specify date], the abovenamed insurer elected not to be rated under the Insurance Companies (Ratings and Inspections) Act 1994.

The abovenamed insurer hereby revokes that election.

Note: Section 9(3) of the Insurance Companies (Ratings and Inspections) Act 1994 provides that a notice of the revocation of an election not to be rated takes effect on the date specified in the notice or, if no date is specified, on the date on which the notice is registered. If a date is specified, it must not be a date that is earlier than the date on which the notice is delivered to the Registrar for registration.

If this notice is to take effect on a specified date, please specify the date below.

This notice takes effect on: [date]

Signed on behalf of insurer:

Name:

Date:

Presented by:

Postal address:

Account No:

Telephone:

Facsimile:


Diane Wilderspin,
Acting for Clerk of the Executive Council.


Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on the 28th day after the date of their notification in the Gazette, prescribe—

  • (b) the form of notice of revocation of an election not to be rated under that Act.

Under section 9 of the Act, an insurer that is not a party, in its capacity as an insurer, to a contract of disaster or general insurance, may elect not to be rated under the Act and may subsequently revoke such an election.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 1 June 1995.


Contents

  • 1General

  • 2Status of reprints

  • 3How reprints are prepared

  • 4Changes made under section 17C of the Acts and Regulations Publication Act 1989

  • 5List of amendments incorporated in this reprint (most recent first)


Notes
1 General
  • This is a reprint of the Insurance Companies (Ratings) Regulations 1995. The reprint incorporates all the amendments to the regulations as at 2 June 1995, as specified in the list of amendments at the end of these notes.

    Relevant provisions of any amending enactments that contain transitional, savings, or application provisions that cannot be compiled in the reprint are also included, after the principal enactment, in chronological order. For more information, see http://www.pco.parliament.govt.nz/reprints/ .

2 Status of reprints
  • Under section 16D of the Acts and Regulations Publication Act 1989, reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by the amendments to that enactment. This presumption applies even though editorial changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in the reprint.

    This presumption may be rebutted by producing the official volumes of statutes or statutory regulations in which the principal enactment and its amendments are contained.

3 How reprints are prepared
  • A number of editorial conventions are followed in the preparation of reprints. For example, the enacting words are not included in Acts, and provisions that are repealed or revoked are omitted. For a detailed list of the editorial conventions, see http://www.pco.parliament.govt.nz/editorial-conventions/ or Part 8 of the Tables of New Zealand Acts and Ordinances and Statutory Regulations and Deemed Regulations in Force.

4 Changes made under section 17C of the Acts and Regulations Publication Act 1989
  • Section 17C of the Acts and Regulations Publication Act 1989 authorises the making of editorial changes in a reprint as set out in sections 17D and 17E of that Act so that, to the extent permitted, the format and style of the reprinted enactment is consistent with current legislative drafting practice. Changes that would alter the effect of the legislation are not permitted.

    A new format of legislation was introduced on 1 January 2000. Changes to legislative drafting style have also been made since 1997, and are ongoing. To the extent permitted by section 17C of the Acts and Regulations Publication Act 1989, all legislation reprinted after 1 January 2000 is in the new format for legislation and reflects current drafting practice at the time of the reprint.

    In outline, the editorial changes made in reprints under the authority of section 17C of the Acts and Regulations Publication Act 1989 are set out below, and they have been applied, where relevant, in the preparation of this reprint:

    • omission of unnecessary referential words (such as of this section and of this Act)

    • typeface and type size (Times Roman, generally in 11.5 point)

    • layout of provisions, including:

      • indentation

      • position of section headings (eg, the number and heading now appear above the section)

    • format of definitions (eg, the defined term now appears in bold type, without quotation marks)

    • format of dates (eg, a date formerly expressed as the 1st day of January 1999 is now expressed as 1 January 1999)

    • position of the date of assent (it now appears on the front page of each Act)

    • punctuation (eg, colons are not used after definitions)

    • Parts numbered with roman numerals are replaced with arabic numerals, and all cross-references are changed accordingly

    • case and appearance of letters and words, including:

      • format of headings (eg, headings where each word formerly appeared with an initial capital letter followed by small capital letters are amended so that the heading appears in bold, with only the first word (and any proper nouns) appearing with an initial capital letter)

      • small capital letters in section and subsection references are now capital letters

    • schedules are renumbered (eg, Schedule 1 replaces First Schedule), and all cross-references are changed accordingly

    • running heads (the information that appears at the top of each page)

    • format of two-column schedules of consequential amendments, and schedules of repeals (eg, they are rearranged into alphabetical order, rather than chronological).

5 List of amendments incorporated in this reprint (most recent first)