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 extend the categories, prescribed by regulation 10 of the Social Security (Long-term Residential Care) Regulations 2005, of assets that are exempt from means assessment under Part 4 of the Act.
Two new categories of exempt assets are prescribed by new regulation 10(1)(j) and (k), namely—
payments made to the person by the Viet Nam Veterans and Their Families Trust (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); and
compensation or ex gratia payments of the kind described in regulation 6(2) of the Social Security (Income and Cash Assets Exemptions: Ex Gratia and Compensation Payments Made by the Crown) Regulations 2008. That regulation exempts compensation and ex gratia payments made to a person by the Crown in recognition of harm, or in respect of a claim of harm. (Harm is defined as meaning illness, injury, or both, and as including physical harm, mental harm, humiliation, and injury to feelings, but does not include economic loss, loss of property, loss of an expected benefit, or loss of employment.)
These exemptions apply only in respect of the first 12 months after the payment is made.
Date of notification in Gazette: 2 October 2008.
These regulations are administered by the Ministry of Social Development.