This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 1 January 2010, 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.
The new categories of exempt assets are—
any amount of income derived by the person from a payment received from the Viet Nam Veterans and Their Families Trust (new regulation 10(1)(ja)); and
any payment made to the person on or after 17 August 2007 by the EVSA (Neville Wallace Memorial) Children's & Grandchildren's Trust, and any income derived by the person from that payment (new regulation 10(1)(l) and (m)); and
any payment made by or on behalf of the Crown to the person because the person is a victim, and any income derived by the person from that payment (new regulation 10(1)(n) and (o)).
These exemptions apply only in respect of the first 12 months after the payment is made.
Date of notification in Gazette: 17 December 2009.
These regulations are administered by the Ministry of Social Development.