This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 30 March 2012, amend the Social Security (Income and Cash Assets Exemptions) Regulations 2011. The amendments—
extend from 12 months to 24 months the period in which certain payments (and related interest derived from them) made in relation to the Canterbury earthquakes are to be exempt from being treated as cash assets, but only if the chief executive is satisfied that the person to whom a payment is to be or has been made intends to use or has used the payment to repair or rebuild any existing residential premises, or to purchase any replacement residential premises; and
clarify that if certain payments are paid in instalments, or 1 or more payments are made, the date that the payments are made is the date on which the final instalment is paid or the last payment is made.
Date of notification in Gazette: 29 March 2012.
These regulations are administered by the Ministry of Social Development.