Act Repealed Latest version as at 25 August 1978 (as enacted) | 1978 No 18

Family Benefits (Home Ownership) Amendment Act 1978

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Contents

Short Title, commencement, and application

Advances for housing purposes

Family benefit to be applied in repayment of advances

Schedule THIRD SCHEDULE TO PRINCIPAL ACT

Family Benefits (Home Ownership) Amendment Act 1978

Public Act		1978 No 18
Date of assent		25 August 1978

	Title
1	Short Title, commencement, and application
2	Advances for housing purposes
3	Family benefit to be applied in repayment of advances
	Schedule THIRD SCHEDULE TO PRINCIPAL ACT
	Administrative information

An Act to amend the Family Benefits (Home Ownership) Act 1964

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, and application

(1)

This Act may be cited as the Family Benefits (Home Ownership) Amendment Act 1978, and shall be read together with and deemed part of the Family Benefits (Home Ownership) Act 1964 (hereinafter referred to as the principal Act).

(2)

This Act shall be deemed to have come into force on the 2nd day of June 1978, and shall apply with respect to advances approved on or after that date, whether the application for the advance was made before or on or after that date.

2 Advances for housing purposes

(1)

Section 6 of the principal Act is hereby amended by omitting from paragraph (a) of the proviso (as amended by section 7 of the Decimal Currency Act 1964) the words “two thousand dollars”, and substituting the expression “$3,000”.

(2)

The principal Act is hereby further amended by adding the Third Schedule set out in the Schedule to this Act.

(3)

The principal Act is hereby further amended—

(a)

By inserting in section 12(1), after the words “First Schedule to this Act”, the words “in the case of an advance approved before the 2nd day of June 1978 and in accordance with the Third Schedule to this Act in the case of an advance approved on or after that date”:

(b)

By inserting in section 20, after the words “First Schedule to this Act”, the words “in the case of an advance approved before the 2nd day of June 1978 and in accordance with the Third Schedule to this Act in the case of an advance approved on or after that date”:

(c)

By inserting in the First Schedule, after the words in the heading “Balance of Advances”, the words “Approved Before 2 June 1978”.

3 Family benefit to be applied in repayment of advances

(1)

Section 15(1) of the principal Act is hereby amended by repealing paragraph (a), and substituting the following paragraph:

“(a)

Be reduced by an amount not exceeding $1.50 a week in the case of advances approved before the 2nd day of June 1978 and cease to be payable to the beneficiary in the case of advances approved on or after that date, and shall continue to be so reduced or not payable, as the case may be, until the child in respect of whom the benefit is payable attains the age in respect of which the capitalised value of the benefit was calculated for the purposes of the advance. On the attainment of that age by the child, the advance, to the extent to which it was made in respect of that benefit, shall be deemed to have been repaid:”.

(2)

Section 42 of the Social Security Amendment Act 1972 is hereby repealed.

Schedule THIRD SCHEDULE TO PRINCIPAL ACT

Section 2(2)

“THIRD SCHEDULE Table for Calculating Capitalised Value of Family Benefits and Unpaid Balance of Advances Approved on or after 2 June 1978

Sections 12, 20

Number of Pay Periods for which Benefit Capitalised	Capitalised Value of Benefit	Number of Pay Periods for which Benefit Capitalised	Capitalised Value of Benefit
	$		$
1	12.00	41	469.20
2	24.00	42	480.00
3	35.80	43	490.80
4	47.60	44	501.60
5	59.40	45	512.40
6	71.20	46	523.20
7	83.00	47	534.00
8	94.80	48	544.80
9	106.60	49	555.60
10	118.40	50	566.40
11	130.20	51	577.20
12	142.00	52	587.80
13	153.60	53	598.40
14	165.20	54	609.00
15	176.80	55	619.60
16	188.40	56	630.20
17	200.00	57	640.80
18	211.60	58	651.40
19	223.00	59	661.80
20	234.40	60	672.20
21	245.80	61	682.60
22	257.20	62	693.00
23	268.60	63	703.40
24	280.00	64	713.80
25	291.40	65	724.20
26	302.60	66	734.60
27	313.80	67	744.80
28	325.00	68	755.00
29	336.20	69	765.20
30	347.40	70	775.40
31	358.60	71	785.60
32	369.80	72	795.80
33	381.00	73	806.00
34	392.20	74	816.20
35	403.20	75	826.40
36	414.20	76	836.60
37	425.20	77	846.60
38	436.20	78	856.60
39	447.20	79	866.60
40	458.20	80	876.60
81	886.60	126	1311.60
82	896.60	127	1320.60
83	906.60	128	1329.60
84	916.40	129	1338.60
85	926.20	130	1347.40
86	936.00	131	1356.20
87	945.80	132	1365.00
88	955.60	133	1373.80
89	965.40	134	1382.60
90	975.20	135	1391.40
91	985.00	136	1400.20
92	994.80	137	1409.00
93	1004.40	138	1417.80
94	1014.00	139	1426.40
95	1023.60	140	1435.00
96	1033.20	141	1443.60
97	1042.80	142	1452.20
98	1052.40	143	1460.80
99	1062.00	144	1469.40
100	1071.60	145	1478.00
101	1081.20	146	1486.60
102	1090.80	147	1495.20
103	1100.20	148	1503.80
104	1109.60	149	1512.20
105	1119.00	150	1520.60
106	1128.40	151	1529.00
107	1137.80	152	1537.40
108	1147.20	153	1545.80
109	1156.60	154	1554.20
110	1165.80	155	1562.60
111	1175.00	156	1571.00
112	1184.20	157	1579.40
113	1193.40	158	1587.80
114	1202.60	159	1596.00
115	1211.80	160	1604.20
116	1221.00	161	1612.40
117	1230.20	162	1620.60
118	1239.40	163	1628.80
119	1248.60	164	1637.00
120	1257.60	165	1645.20
121	1266.60	166	1653.40
122	1275.60	167	1661.60
123	1284.60	168	1669.80
124	1293.60	169	1677.80
125	1302.60	170	1685.80
171	1693.80	185	1804.40
172	1701.80	186	1812.20
173	1709.80	187	1819.80
174	1717.80	188	1827.40
175	1725.80	189	1835.00
176	1733.80	190	1842.60
177	1741.80	191	1850.20
178	1749.80	192	1857.80
179	1757.60	193	1865.40
180	1765.40	194	1873.00
181	1773.20	195	1880.40
182	1781.00	196	1887.80
183	1788.80	197	1895.20
184	1796.60		”

This Act is administered in the Department of Social Welfare.

Family Benefits (Home Ownership) Amendment Act 1978