Skip to main content
Act Repealed Latest version as at 06 November 1924 (as enacted) | 1924 No 63

Government Accident Insurance Amendment Act 1924

Checking for related legislation...
Download
Search content
Act Repealed Latest version as at 06 November 1924 (as enacted) | 1924 No 63

Government Accident Insurance Amendment Act 1924

Checking for alerts...

Government Accident Insurance Amendment Act 1924

Public Act
  
1924 No 63
Date of assent
  
6 November 1924
 

Contents

Title
1 Short Title and commencement.
2 Interpretation.
3 Transfer of business of Government accident insurance to General Manager of State Fire Insurance.
4 Extension of business of Accident Insurance Branch to permit of insurance against accident to property.
5 Abrogation of limit of risk in respect of single person.
6 Application of profits of Accident Insurance Branch.
7 Further amendments of principal Act consequential on amalgamation of business of fire and accident insurance.
Schedule
Amendments of Principal Act consequential on Amalgamation of Business of Fire and Accident Insurance.

An Act to amend the Government Accident 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 and commencement.

(1.)

This Act may be cited as the Government Accident Insurance Amendment Act, 1924, and shall be read together with and deemed part of the Government Accident 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-five.

2 Interpretation.

In this Act and in the principal Act as amended by this Act, if not inconsistent with the context,—

“Board” means the State Fire Insurance Board constituted under the State Fire Insurance Act, 1908:

“Department” means the Department of State for the time being carrying on the business of fire insurance under the State Fire Insurance Act, 1908, and the business of accident insurance under the principal Act:

“General Manager” means the General Manager appointed under the State Fire Insurance Act, 1908.

3 Transfer of business of Government accident insurance to General Manager of State Fire Insurance.

(1.)

The powers, functions, duties, and obligations of the Government Insurance Commissioner under the principal Act, or under any policy, contract, instrument, or other matter or thing arising out of or in connection with the business of accident insurance under the principal Act, are hereby transferred to and vested in the State Fire Insurance General Manager.

(2.)

The business of the General Manager in respect of accident insurance shall be carried on by the Department separately from the business of fire insurance under the State Fire Insurance Act, 1908, and shall be so carried on by a branch of the Department to be known as the Government Accident Insurance Office (hereinafter referred to as the Accident Insurance Branch of the Department).

(3.)

The Government Insurance Commissioner or other person having the custody or control of any securities, books of account, records, or other documents in connection with the business transferred by this Act to the State Fire Insurance General Manager shall, on the request in writing of the General Manager, deliver the same to him or to such officer or officers as the General Manager may nominate in that behalf, or shall cause the same to be so delivered.

(4.)

For the effective administration of the Accident Insurance Branch of the Department, the Governor-General, the Minister of Finance, the General Manager, the deputy of the General Manager, and the Board shall, in relation to the business of that branch and with the necessary modifications, have the same powers and functions respectively as they have in relation to the business of the State Fire Insurance Office.

4 Extension of business of Accident Insurance Branch to permit of insurance against accident to property.

In addition to the classes of insurance business which the General Manager is authorized to carry on under the principal Act, he may carry on in the Accident Insurance Branch of the Department the business of insurance against accident to property, including indemnity for liability due to or arising out of any such accident, and any other insurance business which is usually carried on by accident-insurance, companies.

5 Abrogation of limit of risk in respect of single person.

The proviso to section three of the principal Act is hereby repealed.

6 Application of profits of Accident Insurance Branch.
1908, No. 71, sec. 20 1922, No. 51, sec. 50

(1.)

The net surplus profits of the Accident Insurance Branch of the Department for each year ending on the thirty-first day of December shall be applied in making a reserve fund, which, with all accumulations of interest thereon, shall be held and invested by the General Manager, and shall from time to time as occasion may require be applied for the purposes of the business of the Accident Insurance Branch of the Department.

(2.)

When and as often as the Board considers that the funds of the Accident Insurance Branch of the Department are sufficient to meet all the actual and contingent liabilities of that branch 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.

(3.)

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.

(4.)

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 accident policy during the period of three years immediately prior to the date when the premium in respect of which the rebate is claimed became payable.

Consequential repeals.

(5.)

Section twenty of the principal Act and section fifty of the Finance Act, 1922, are hereby repealed.

7 Further amendments of principal Act consequential on amalgamation of business of fire and accident insurance.

The principal Act is hereby further amended in the manner and to the extent indicated in the Schedule hereto.

Schedule Amendments of Principal Act consequential on Amalgamation of Business of Fire and Accident Insurance.

Number of Section. Nature and Extent of Amendment.
Section 1 By omitting from subsection (1) the words “and it shall form part of and be read together with the Government Life Insurance Act, 1908.”
Section 2 (a.) By repealing the definitions of the terms “Board,” “Commissioner,” “Department,” and “Government Insurance Account”:
(b.) By adding to the definition of the term “Accident” the words “or in damage to property.”
Section 3 By omitting the words “In addition to the powers vested in the Commissioner under the Government Life Insurance Act, 1908 the Commissioner,” and substituting the words “The General Manager.”
Section 6 By omitting the words “Government Insurance Account,” and substituting the words “State Fire Insurance Account.”
Section 8 By omitting from paragraph (a) the word “Commissioner,” and substituting the words “General Manager.”
Section 9 By omitting from subsection (1) the word “Commissioner,” and substituting the words “General Manager.”
Section 10 By omitting the word “Commissioner,” and substituting the words “General Manager.”
Section 11 By omitting the word “Commissioner” wherever it occurs, and in each case substituting the words “General Manager.”
Section 12 By omitting from paragraph (b) the word “Commissioner,” and substituting the words “General Manager.”
Section 14 By omitting the word “Commissioner,” and substituting the words “General Manager.”
Section 15 By omitting from subsection (1) and also from subsection (3) the word “Commissioner,” and in each case substituting the words “General Manager.”
Section 16 By omitting the words “in the same manner, mutatis mutandis, as in the case of moneys and property subject to the Government Life Insurance Act, 1908.”
Section 17 By omitting all words after the words “The Public Revenues Act, 1908.”
Section 18 By omitting the words “Government Insurance Account may be invested, except on policies held under the Government Life Insurance Act, 1908,” and substituting the words “State Fire Insurance Account may be invested.”
Section 19 By omitting the words “securities of the Government Life Insurance Office,” and substituting the words “public securities.”
Section 22 By omitting the word “Commissioner,” and substituting the word “General Manager.”
Section 23 By omitting the words “life insurance branch,” and substituting the words “fire insurance branch.”
Section 24 (a.) By omitting the word “Commissioner” wherever it occurs, and in each case substituting the words “General Manager”:
(b.) By omitting the words “Government Insurance Account,” and substituting the words “State Fire Insurance Account.”
Section 25 By omitting the word “Commissioner,” and substituting the words “General Manager.”
Section 26 By omitting the word “Commissioner,” and substituting the words “General Manager.”
Section 27 By omitting the word “Commissioner,” and substituting the words “General Manager.”
Section 28 By omitting the word “Commissioner” wherever it occurs, and in each case substituting the words “General Manager.”
Section 29 By repealing the section.
Section 30 (a.) By omitting from subsection (1) the words “In addition to the powers vested in the Governor under the Government Life Insurance Act, 1908”:
(b.) By omitting the word “Commissioner” wherever it occurs, and in each case substituting the words “General Manager”:
(c.) By omitting from paragraph (d) the words “and bonuses allotted.”
Second Schedule By omitting from the headings to the forms set out in the Second Schedule the words “Accident Insurance Branch of the Business of the Government Insurance Department,” and substituting the words “Government Accident Insurance Office.”
Act Repealed Latest version as at 06 November 1924 (as enacted)

Government Accident Insurance Amendment Act 1924

RSS feed link copied, you can now paste this link into your feed reader.