KiwiSaver (Vulnerable Children) Amendment Act 2014

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KiwiSaver (Vulnerable Children) Amendment Act 2014

Public Act2014 No 42
Date of assent30 June 2014
Commencementsee section 2

The Parliament of New Zealand enacts as follows:

1 Title
  • This Act is the KiwiSaver (Vulnerable Children) Amendment Act 2014.

2 Commencement
  • This Act comes into force on the day after the date on which it receives the Royal assent.

3 Principal Act
4 Section 4 amended (Interpretation)
  • (1) In section 4(1), definition of guardian, after the Care of Children Act 2004, insert , but excludes a CYPFA guardian.

    (2) In section 4(1), insert in its appropriate alphabetical order:

    CYPFA guardian, of a person, means any other person—

    • (a) appointed by an order under section 110(1)(a) to (d) of the Children, Young Persons, and Their Families Act 1989 as the sole guardian, or as a guardian of the person in addition to any other guardians (whether or not guardians by virtue of that Act), of the person; or

    • (b) whose sole guardianship of the person arises under section 119 of that Act (about the death of a guardian appointed under section 110(1)(e) of that Act who, on his or her death, was the person's sole guardian).

5 Section 35 amended (Opting in by persons under 18)
  • (1) In section 35(3),—

    • (a) after with a guardian, insert or a CYPFA guardian; and

    • (b) after and 1 of their guardians, insert or CYPFA guardians.

    (2) After section 35(4), insert:

    • (5) A person who is less than 16 years with a CYPFA guardian may opt in if the CYPFA guardian (independently from the person, and from all other, if any, CYPFA guardians, guardians, or both, of the person) contracts directly with a provider, in the name of the person. If the provider accepts the person, then the person is treated as––

      • (a) contracting directly with the provider; and

      • (b) 18 years for the purposes of the Minors' Contracts Act 1969; and

      • (c) opting in under section 34(1)(a).

    • (6) If a person who is less than 16 years with a CYPFA guardian is a member of a KiwiSaver scheme (whether opted into before or while the CYPFA guardian's guardianship has effect), the CYPFA guardian has for the purposes of this Act authority (instead of all guardians, if any, of the person, and independently from the person, and from all other, if any, CYPFA guardians of the person) to make decisions (for example, voluntary transfer decisions), or to take other steps, in respect of the person's membership of the scheme.

6 Children, Young Persons, and Their Families Act 1989 amended
  • (2) In section 2(1), definition of guardianship, after corresponding meaning, insert , and includes, without limitation, a person who is a guardian by virtue of this Act.

    (3) In section 390(1)(a), after any bank, insert , or opt into a KiwiSaver scheme in the name of the young person (but only if the young person is under the person’s guardianship, and only in accordance with section 35(3) or (5) of the KiwiSaver Act 2006).

    (4) In section 390(1)(b), after into that account, insert or into any KiwiSaver scheme (whenever it was opted into) of which the young person is a member.

    (5) After section 390(3), insert:

    • (4) Subsections (2) and (3) do not apply to, or to money standing to the young person's credit in, a KiwiSaver scheme of which the young person is a member, and do not limit or affect section 35(6) of the KiwiSaver Act 2006 (which authorises specified guardians under this Act to make decisions or take steps in respect of a KiwiSaver scheme membership of a person younger than 16 years).

Legislative history

17 June 2014Divided from Vulnerable Children Bill (Bill 150–2) as Bill 150–3B
19 June 2014Third reading
30 June 2014Royal assent

This Act is administered by the Inland Revenue Department and the Ministry of Business, Innovation, and Employment.