State Fire Insurance Amendment Act 1922
State Fire Insurance Amendment Act 1922
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State Fire Insurance Amendment Act 1922
State Fire Insurance Amendment Act 1922
Public Act |
1922 No 22 |
|
Date of assent |
16 October 1922 |
|
Contents
An Act to amend the State Fire Insurance Act, 1908.
BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—
1 Short Title. Commencement.
(1.)
This Act may be cited as the State Fire Insurance Amendment Act, 1922, and shall be read together with and deemed part of the State Fire Insurance Act, 1908 (hereinafter referred to as the principal Act).
(2.)
This Act shall come into force on the first day of January, nineteen hundred and twenty-three.
2 Application of Reserve Fund established by section 2 of the State Fire Insurance Amendment Act, 1912.
Section two of the State Fire Insurance Amendment Act, 1912, is hereby amended by repealing the proviso to subsection one, and also by repealing subsection two thereof, and substituting the following subsections:—
“(2.)
When and as often as the Board considers that the funds of the State Fire Insurance Office are sufficient to meet all its actual and contingent liabilities it may direct that a rebate be allowed to insurers in respect of premiums, or of any class or classes of premiums, thereafter becoming payable.
“(2a.)
The amount of such rebate, and the terms and conditions under which the same shall be allowed, shall be determined by the Board from time to time, and the decision of the Board shall in every case be final. Every such rebate shall be made without further appropriation than this section.
“(2b.)
In particular, but without affecting the generality of the foregoing provisions, the Board may, in its discretion, refuse to allow a rebate to any person who has made a claim under any fire-insurance policy (whether issued by the State Fire Insurance Office or not) during the period of three years immediately prior to the date when the premium in respect of which the rebate is claimed became payable.”
3 Repeal of provisions as to Mutual Guarantee Fund.
Section eight of the principal Act is hereby amended by repealing paragraphs (b), (c), and (d) thereof.
4 Altering the constitution of the State Fire Insurance Board.
(1.)
Section eleven of the principal Act is hereby amended by omitting all words after the words “consisting of,”
and substituting the following:—
“(a.)
The Minister;
“(b.)
The General Manager; and
“(c.)
Three other persons to be appointed in that behalf by the Governor-General (of whom at least one shall be an officer of the Public Service).”
(2.)
Section twelve of the principal Act is hereby amended as follows:—
(a.)
By omitting from paragraph (a) the word “two”
before the word “members”
; by omitting from the same paragraph the word “either,”
and substituting the word “any”
; and by inserting, after the words “while holding such office shall,”
the words “except in the case of a member being an officer of the Public Service”
:
(b.)
By omitting from paragraph (b) the word “either,”
and substituting the word “any”
:
(c.)
By repealing paragraph (f):
(d.)
By inserting in paragraph (i), after the words “from any meeting,”
the words “the General Manager, if present, shall be the Chairman of that meeting, and in any other case.”
5 Repeal of special provisions as to payment of premiums.
Section twenty-one of the principal Act is hereby amended by repealing paragraphs (a) and (b) thereof.
6 Meetings of Board, & c.
(1.)
The Board shall meet at least once in each calendar month, at such time and place as the Board may from time to time determine, and shall also meet at such other times as the General Manager may appoint.
(2.)
The General Manager shall place before the Board at each ordinary monthly meeting such statements and documents as he may think fit, or as the Minister may direct, or as may be prescribed by regulations in that behalf.
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Versions
State Fire Insurance Amendment Act 1922
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