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