This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 1 December 2011, amend the Earthquake Commission Regulations 1993 to increase the premium payable in respect of the insurance of any residential building or personal property under the Earthquake Commission Act 1993. The premium is increased from the rate of 5 cents for every $100 of the relevant amount to the rate of 15 cents for every $100 of the relevant amount. The increase applies to contracts of insurance that provide cover for periods commencing on or after 1 February 2012.
Date of notification in Gazette: 3 November 2011.
These regulations are administered by the Treasury.