New Zealand Legislation: Regulations
Regulations are laws made under Acts
2008/348
Anand Satyanand, Governor-General
At Wellington this 29th day of September 2008
Present:
His Excellency the Governor-General in Council
Pursuant to section 132 of the Social Security Act 1964, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.
These regulations are the Social Security (Income and Cash Asset Exemptions—Viet Nam Veterans and Their Families Trust Payments) Regulations 2008.
These regulations come into force on 3 November 2008.
In these regulations, unless the context otherwise requires,—
Act means the Social Security Act 1964
MoU on measures related to veterans means the memorandum of understanding—
(a) signed on 6 December 2006 for and on behalf of the following (the parties):
(i) the Ex-Vietnam Services Association; and
(ii) the Royal New Zealand Returned and Services Association; and
(iii) the Crown; and
(b) not intended to be legally binding on the parties, but recording their intentions on a package of measures related to Vietnam veterans and other veterans
Trust means the trust established by the trust deed that was, immediately before the commencement of these regulations, called the Viet Nam Veterans and Their Families Trust
trust deed means the deed signed on 16 August 2007 in accordance with clause 18 of the MoU on measures relating to veterans.
The exemptions in regulations 5 and 6 apply to any payments made on or after 17 August 2007.
(1) The following are declared not to be the income of a person for the purpose of paragraph (f)(xvii) of the definition of income in section 3(1) of the Act:
(a) any payment made to the person by the Trust other than a payment of the kind referred to in any of paragraphs (a) to (d) of clause 14.2 of the trust deed:
(b) any amount of income derived by the person from a payment referred to in paragraph (a).
(2) The exemptions in subclause (1) apply only in respect of the first 12 months after the payment is made.
(1) The item of cash assets specified in subclause (2) is not a person's cash assets for the purpose of paragraph (b) of the definition of cash asset in section 61E of the Act.
(2) The item of cash assets is any payment made to the person by the Trust other than a payment of the kind referred to in any of paragraphs (a) to (d) of clause 14.2 of the trust deed.
(3) The exemption in subclause (1) applies only in respect of the first 12 months after the payment is made.
Rebecca Kitteridge,
Clerk of the Executive Council.
This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 3 November 2008, are made under the Social Security Act 1964 (the Act). They declare certain items of income or cash assets not to be a person's income or cash assets for the purposes of the Act.
The exempted income and cash assets are payments made to the person by the Viet Nam Veterans and Their Families Trust on or after 17 August 2007, other than payments made by the trust under clause 14.2(a) to (d) of the trust deed (which relate to trustees' annual fees, trustees' costs and expenses, and payments for services rendered to the trust). When these regulations were made, the trust deed, and the memorandum of understanding on measures related to veterans, were available through the Internet site at www.litigationnz.com.
The exemption applies only in respect of the first 12 months after the payment was made.
Such payments, if made after 3 November 2008, are also—
assets exempt from means assessment under Part 4 of the Act, because of the related exemption in regulation 10(1)(j) of the Social Security (Long-term Residential Care) Regulations 2005; and
excluded from cash assets used in determining eligibility for temporary additional support, because of the related exclusion in regulation 8(3)(i) of the Social Security (Temporary Additional Support) Regulations 2005.
Date of notification in Gazette: 2 October 2008.
These regulations are administered by the Ministry of Social Development.