New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) The purpose of regulations 22 to 29 is to provide for a mortgage diversion facility that allows contributions to be withdrawn from KiwiSaver schemes and complying superannuation funds, and applied towards the payment of amounts that are secured by a mortgage over a member’s principal residence, if the provider and the mortgagee choose to participate in the mortgage diversion facility and the member requests participation before it is closed to new participants.
(2) For the purposes of regulations 22 to 29, a reference to a KiwiSaver scheme is treated as including a reference to a complying superannuation fund and a reference to KiwiSaver contributions is treated as including a reference to complying superannuation fund contributions.
Regulation 21: added, on 1 July 2007, by regulation 4 of the KiwiSaver Amendment Regulations 2007 (SR 2007/152).
Regulation 21(1): amended, on 1 June 2009, by section 7 of the Taxation (Budget Tax Measures) Act 2009 (2009 No 14).
Regulation 21(1): amended, on 19 December 2007, by section 116(1) of the Taxation (KiwiSaver) Act 2007 (2007 No 110).
Regulation 21(2): added, on 19 December 2007, by section 116(2) of the Taxation (KiwiSaver) Act 2007 (2007 No 110).
