Act Repealed Latest version as at 16 November 1982 (as enacted) | 1982 No 53

Family Benefits (Home Ownership) Amendment Act 1982

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Contents

Short Title, commencement, and application

Advances for housing purposes

Amount of advances

Family benefit to be applied in repayment of advances

Calculation of unpaid balance of advance

Amending Third Schedule

New Fourth Schedule added

Schedule NEW FOURTH SCHEDULE TO PRINCIPAL ACT

Family Benefits (Home Ownership) Amendment Act 1982

Public Act		1982 No 53
Date of assent		16 November 1982

	Title
1	Short Title, commencement, and application
2	Advances for housing purposes
3	Amount of advances
4	Family benefit to be applied in repayment of advances
5	Calculation of unpaid balance of advance
6	Amending Third Schedule
7	New Fourth Schedule added
	Schedule NEW FOURTH SCHEDULE TO PRINCIPAL ACT
	Administrative information

An Act to amend the Family Benefits (Home Ownership) Act 1964

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:

1 Short Title, commencement, and application

(1)

This Act may be cited as the Family Benefits (Home Ownership) Amendment Act 1982, and shall be read together with and deemed part of the Family Benefits (Home Ownership) Act 1964 (hereinafter referred to as the principal Act).

(2)

This Act shall be deemed to have come into force on the 17th day of August 1982, and shall apply with respect to advances approved on or after that date, whether the application was made before or on or after that date.

2 Advances for housing purposes

(1)

Section 6 of the principal Act is hereby amended by omitting from paragraph (a) of the proviso the expression “$3,000”, and substituting the expression “$4,000”.

(2)

Section 2(1) of the Family Benefits (Home Ownership) Amendment Act 1978 is hereby consequentially repealed.

3 Amount of advances

(1)

Section 12 of the principal Act is hereby amended by repealing subsection (1), and substituting the following subsection:

“(1)

The capitalised value of a family benefit for the purposes of an advance shall be calculated in accordance with—

“(a)

The table set out in the Third Schedule to this Act, in the case of an advance approved before the 17th day of August 1982:

“(b)

The table set out in the Fourth Schedule to this Act, in the case of an advance approved on or after that date—

having regard to the number of pay periods that will occur from the date on which the benefit ceases to be payable to the beneficiary by reason of the advance until the end of the period for which the benefit is to be applied in repayment. If for any reason the family benefit is payable at a reduced rate, the capitalised value shall be calculated on the basis of the reduced rate.”

(2)

Section 2(3)(a) of the Family Benefits (Home Ownership) Amendment Act 1978 is hereby consequentially repealed.

4 Family benefit to be applied in repayment of advances

(1)

Section 15(1) of the principal Act is hereby amended by repealing paragraph (a), and substituting the following paragraph:

“(a)

In the case of advances—

“(i)

Approved before the 2nd day of June 1978, be reduced by an amount not exceeding $1.50 a week:

“(ii)

Approved on or after the 2nd day of June 1978 but before the 17th day of August 1982, be reduced by an amount not exceeding $3 a week:

“(iii)

Approved on or after the 17th day of August 1982, cease to be payable to the beneficiary—

and shall continue to be so reduced or not payable, as the case may be, until the child in respect of whom the benefit is payable attains the age in respect of which the capitalised value of the benefit was calculated for the purposes of the advance. On attainment of that age by the child, the advance, to the extent to which it was made in respect of that benefit, shall be deemed to have been repaid:”.

(2)

Section 17 of the Social Security Amendment Act 1979 is hereby consequentially repealed.

5 Calculation of unpaid balance of advance

(1)

The principal Act is hereby further amended by repealing section 20, and substituting the following section:

“20

For the purposes of this Act, the amount of the unpaid balance of an advance shall be calculated in accordance with—

“(a)

The table set out in the First Schedule to this Act, in the case of an advance approved before the 2nd day of June 1978:

“(b)

The table set out in the Third Schedule to this Act, in the case of an advance approved on or after the 2nd day of June 1978 but before the 17th day of August 1982:

“(c)

The table set out in the Fourth Schedule to this Act, in the case of an advance approved on or after the 17th day of August 1982—

and shall be an amount equal to the capitalised value of the benefit in respect of which it was made for the number of pay periods of the advance less the number of pay periods that have elapsed since the date of the advance, calculated, as if for an advance in the first instance, from the end of the pay period during which the event occurred which results in the advance becoming repayable.”

(2)

Section 2(3)(b) of the Family Benefits (Home Ownership) Amendment Act 1978 is hereby consequentially repealed.

6 Amending Third Schedule

The Third Schedule to the principal Act (as added by section 2(2) of the Family Benefits (Home Ownership) Amendment Act 1978) is hereby amended by adding to the beading the words “BUT BEFORE 17 AUGUST 1982”.

7 New Fourth Schedule added

The principal Act is hereby further amended by adding the Fourth Schedule set out in the Schedule to this Act.

Schedule NEW FOURTH SCHEDULE TO PRINCIPAL ACT

Section 7

“FOURTH SCHEDULE Table for Calculating Capitalised Value of Family Benefits and Unpaid Balance of Advances Approved on or after 17 August 1982

Sections 12, 20

Number of Pay Periods for which Benefit Capitalised	Capitalised Value of Benefit	Number of Pay Periods for which Benefit Capitalised	Capitalised Value of Benefit
	$		$
1	24.00	42	960.00
2	48.00	43	981.60
3	71.60	44	1,003.20
4	95.20	45	1,024.80
5	118.80	46	1,046.40
6	142.40	47	1,068.00
7	166.00	48	1,089.60
8	189.60	49	1,111.20
9	213.20	50	1,132.80
10	236.80	51	1,154.40
11	260.40	52	1,175.60
12	284.00	53	1,196.80
13	307.20	54	1,218.00
14	330.40	55	1,239.20
15	353.60	56	1,260.40
16	376.80	57	1,281.60
17	400.00	58	1,302.80
18	423.20	59	1,323.60
19	446.00	60	1,344.40
20	468.80	61	1,365.20
21	491.60	62	1,386.00
22	514.40	63	1,406.80
23	537.20	64	1,427.60
24	560.00	65	1,448.40
25	582.80	66	1,469.20
26	605.20	67	1,489.60
27	627.60	68	1,510.00
28	650.00	69	1,530.40
29	672.40	70	1,550.80
30	694.80	71	1,571.20
31	717.20	72	1,591.60
32	739.60	73	1,612.00
33	762.00	74	1,632.40
34	784.40	75	1,652.80
35	806.40	76	1,673.20
36	828.40	77	1,693.20
37	850.40	78	1,713.20
38	872.40	79	1,733.20
39	894.40	80	1,753.20
40	916.40	81	1,773.20
41	938.40	82	1,793.20
83	1,813.20	129	2,677.20
84	1,832.80	130	2,694.80
85	1,852.40	131	2,712.40
86	1,872.00	132	2,730.00
87	1,891.60	133	2,747.60
88	1,911.20	134	2,765.20
89	1,930.80	135	2,782.80
90	1,950.40	136	2,800.40
91	1,970.00	137	2,818.00
92	1,989.60	138	2,835.60
93	2,008.80	139	2,852.80
94	2,028.00	140	2,870.00
95	2,047.20	141	2,887.20
96	2,066.40	142	2,904.40
97	2,085.60	143	2,921.60
98	2,104.80	144	2,938.80
99	2,124.00	145	2,956.00
100	2,143.20	146	2,973.20
101	2,162.40	147	2,990.40
102	2,181.60	148	3,007.60
103	2,200.40	149	3,024.40
104	2,219.20	150	3,041.20
105	2,238.00	151	3,058.00
106	2,256.80	152	3,074.80
107	2,275.60	153	3,091.60
108	2,294.40	154	3,108.40
109	2,313.20	155	3,125.20
110	2,331.60	156	3,142.00
111	2,350.00	157	3,158.80
112	2,368.40	158	3,175.60
113	2,386.80	159	3,192.00
114	2,405.20	160	3,208.40
115	2,423.60	161	3,224.80
116	2,442.00	162	3,241.20
117	2,460.40	163	3,257.60
118	2,478.80	164	3,274.00
119	2,497.20	165	3,290.40
120	2,515.20	166	3,306.80
121	2,533.20	167	3,323.20
122	2,551.20	168	3,339.60
123	2,569.20	169	3,355.60
124	2,587.20	170	3,371.60
125	2,605.20	171	3,387.60
126	2,623.20	172	3,403.60
127	2,641.20	173	3,419.60
128	2,659.20	174	3,435.60
175	3,451.60	187	3,639.60
176	3,467.60	188	3,654.80
177	3,483.60	189	3,670.00
178	3,499.60	190	3,685.20
179	3,515.20	191	3,700.40
180	3,530.80	192	3,715.60
181	3,546.40	193	3,730.80
182	3,562.00	194	3,746.00
183	3,577.60	195	3,760.80
184	3,593.20	196	3,775.60
185	3,608.80	197	3,790.40”
186	3,624.40

This Act is administered in the Department of Social Welfare.

Family Benefits (Home Ownership) Amendment Act 1982