The Accident Compensation (Financial Responsibility and Transparency) Amendment Act 2015

The Accident Compensation (Financial Responsibility and Transparency) Amendment Act 2015 came into force on 24 September 2015 and is available on the New Zealand Legislation website.

The Amendment Act improves the framework for determining how ACC's levied Accounts are funded so it is clearer, more transparent, has a longer-term focus, and supports more stable levies. The Amendment Act also enabled residual levies to be removed from 1 April 2016, making Work Account levies fairer. Residual levies were previously collected to cover the cost of historical claims.

MBIE has released the following background material on behalf of the Minister for ACC. This material provides relevant advice and information received by the Minister for ACC and Cabinet papers leading up to the introduction of the Bill.

View the Briefings and Cabinet papers related to the Bill1

Critical Issues Paper: Funding and Levies - Briefing [PDF 2.9MB]

ACC Funding Policy - Issues for Discussion - Briefing [PDF 2.6MB]

Impact of Change in Levy Rates, OBEGAL forecast - Briefing [PDF 1.4MB]

ACC Funding Policy - Timing and Legislation Options - Briefing [PDF 1.9MB]

Discussion with Ministers Regarding the Implications of Recent Discount Rate Changes - Briefing [PDF 2.1MB]

ACC Funding and Levies - Strengthening Financial Responsibility and Transparency - Cabinet paper [PDF 3.9MB]

ACC Funding and Levies - Strengthening Financial Responsibility and Transparency - Cabinet minute [PDF 7.6MB]

Upcoming Decisions on Ministerial Direction for 2016/17 Levies - Briefing [PDF 17.2MB]

Provisioning for ACC levy reductions in the Budget 2015 forecasts [PDF 73KB]

Accident Compensation (Financial Responsibility and transparency) Amendment Bill: Approval for Introduction - Cabinet paper [PDF 878KB]

Accident Compensation (Financial Responsibility and Transparency) Approval for Introduction - Cabinet minute [PDF 9.8MB]

Update on process for setting ACC Levies - Cabinet paper [PDF 971KB]


Footnote

[1] This material has been proactively released. Redactions have been made to material deemed out of scope and in accordance with provisions of the Official Information Act 1982.