KiwiSaver (Significant Financial Difficulties—Canterbury Earthquake) Regulations 2011

  • revoked
  • KiwiSaver (Significant Financial Difficulties—Canterbury Earthquake) Regulations 2011: revoked, on 22 January 2012, by regulation 3.

Reprint
as at 22 January 2012

Coat of Arms of New Zealand

KiwiSaver (Significant Financial Difficulties—Canterbury Earthquake) Regulations 2011

(SR 2011/101)

Anand Satyanand, Governor-General

Order in Council

At Wellington this 18th day of April 2011

Present:
His Excellency the Governor-General in Council

  • KiwiSaver (Significant Financial Difficulties—Canterbury Earthquake) Regulations 2011: revoked, on 22 January 2012, by regulation 3.


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 228(r) of the KiwiSaver Act 2006, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.

Regulations

1 Title
  • These regulations are the KiwiSaver (Significant Financial Difficulties—Canterbury Earthquake) Regulations 2011.

2 Commencement
  • These regulations come into force on the day after the date of their notification in the Gazette.

3 Expiry and revocation
  • These regulations expire, and are revoked, 9 months after the day on which they come into force.

4 Interpretation
  • In these regulations,—

    aftershock means the Canterbury earthquake aftershock, centred in Lyttelton, on 22 February 2011

    KiwiSaver scheme rules has the same meaning as in section 4(1) of the KiwiSaver Act 2006

    member has the same meaning as in section 4(1) of the KiwiSaver Act 2006

    specified member means a member who, at the time of the aftershock, was residing in the district of one of the following territorial authorities:

    • (a) Ashburton District Council:

    • (b) Christchurch City Council:

    • (c) Hurunui District Council:

    • (d) Selwyn District Council:

    • (e) Waimakariri District Council.

5 Matters from which significant financial difficulties have arisen
  • In addition to the matters listed in clause 11(1) of the KiwiSaver scheme rules, the following matters may be regarded as matters from which significant financial difficulties have arisen:

    • (a) the destruction of, or damage to, a specified member's property as a result of the aftershock:

    • (b) a specified member's loss of employment as a result of the aftershock:

    • (c) costs incurred by a specified member as a result of the aftershock (including costs associated with relocating to a new home or dealing with trauma).

Rebecca Kitteridge,
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 day after the date of their notification in the Gazette and expire 9 months later, prescribe matters that may be regarded as matters from which significant financial difficulties have arisen for the purposes of clause 11 of the KiwiSaver scheme rules (the rules) in Schedule 1 of the KiwiSaver Act 2006 (the Act).

Section 113 of the Act and clause 10 of the rules enable a member of a KiwiSaver scheme to withdraw funds from the scheme before reaching the superannuation qualification age if the member is suffering or likely to suffer significant financial hardship. Clause 11 of the rules defines significant financial hardship to include significant financial difficulties that arise because of the matters listed in clause 11. These regulations add to those matters, in respect of specified members of KiwiSaver schemes, property damage or destruction, loss of employment, and costs incurred as a result of the Canterbury earthquake aftershock, centred in Lyttelton, on 22 February 2011. A specified member is a member who was residing in particular districts of Canterbury at the time of that aftershock.


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

Date of notification in Gazette: 21 April 2011.


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 KiwiSaver (Significant Financial Difficulties—Canterbury Earthquake) Regulations 2011. The reprint incorporates all the amendments to the regulations as at 22 January 2012, 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)
  • KiwiSaver (Significant Financial Difficulties—Canterbury Earthquake) Regulations 2011 (SR 2011/101): regulation 3