Insurance (Prudential Supervision) Act 2010

If you need more information about this Act, please contact the administering agency: Reserve Bank of New Zealand

Overview

5 Overview

(1)

In this Act,—

(a)

this Part deals with preliminary matters, including purposes, principles, interpretation, the Bank’s functions under this Act, and the application of this Act to the Crown:

(b)

Part 2 contains provisions relating to the licensing and prudential regulation of insurers:

(c)

Part 3 contains provisions relating to the prudential supervision of insurers:

(d)

Part 4 contains provisions relating to distress management, including provisions relating to recovery plans, directions, liquidation or voluntary administration of insurers, and statutory management:

(e)

Part 5 contains miscellaneous provisions, including provisions relating to Lloyd’s, offences, banning orders, regulations, consequential amendments, and transitional arrangements.

(2)

This section is only a guide to the general scheme and effect of this Act.