Reserve Bank news release - Draft Insurance Bill released for consultation
Monday 20 April 2009, 3:58PM
By Reserve Bank of New Zealand
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Draft Insurance Bill released for consultation
The Reserve Bank today announced the release of a draft Insurance
(Prudential Supervision) Bill for stakeholder consultation.
The draft Bill reflects policy approvals provided by Cabinet in December
2007 and August 2008, and is being released for consultation with an
expectation that respondents will focus on legal, drafting and
operational issues.
Responses on matters of policy, other than those detailed in the
explanatory note on the Bank's website, are not sought in this
consultation.
The draft Bill can be accessed on the Reserve Bank's website
(www.rbnz.govt.nz).
Stakeholder comments in response to this draft Bill and the additional
explanatory note are sought from stakeholders by no later than 22 June
2009.
Following receipt of submissions to this consultation, the Reserve Bank
will finalise the Insurance (Prudential Supervision) Bill for
introduction to Parliament later in 2009.
You can view the explanatory note and the draft Bill at the following
link:
http://www.rbnz.govt.nz/finstab/nbdt/insurance/