Social Security (Income and Cash Assets Exemptions) Amendment Regulations (No 2) 2014

2014/168

Coat of Arms of New Zealand

Social Security (Income and Cash Assets Exemptions) Amendment Regulations (No 2) 2014

Jerry Mateparae, Governor-General

Order in Council

At Wellington this 26th day of May 2014

Present:
His Excellency the Governor-General in Council

Pursuant to sections 132 and 132AA of the Social Security Act 1964, 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 Social Security (Income and Cash Assets Exemptions) Amendment Regulations (No 2) 2014.

2 Commencement
  • These regulations come into force on 26 June 2014.

3 Principal regulations
4 New Part 1A inserted
  • After Part 1, insert:

    Part 1A
    Employment and Work Readiness Assistance Programme payments

    7A Interpretation
    • In this Part, Employment and Work Readiness Assistance Programme means the Employment and Work Readiness Assistance Programme established and approved by the Minister for Social Development under section 124(1)(d) of the Social Security Act 1964 on 6 March 2014.

    7B Application
    • The exemption in regulation 7C applies only for the first 12 months after the payment is made.

    7C Payments declared not to be cash assets
    • Any lump sum payment made under the Employment and Work Readiness Assistance Programme is not cash assets for the purposes of the Act.

 Michael Webster,
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 come into force on 26 June 2014 and amend the Social Security (Income and Cash Assets Exemptions) Regulations 2011. Regulation 4 inserts a new Part 1A, which exempts any lump sum payment made under the Employment and Work Readiness Assistance Programme from being treated as cash assets for 12 months from the date of payment.


Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 29 May 2014.

These regulations are administered by the Ministry of Social Development.