Accident Compensation (Interest Rates for Payment of Levies) Amendment Regulations 2026
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2026/31
Accident Compensation (Interest Rates for Payment of Levies) Amendment Regulations 2026
Cindy Kiro, Governor-General
Order in Council
At Wellington this 23rd day of February 2026
Present:
Her Excellency the Governor-General in Council
These regulations are made under sections 329(1)(ha), (hb)(i), and (i) and 333(1)(c) of the Accident Compensation Act 2001—
(a)
on the advice and with the consent of the Executive Council; and
(b)
on the recommendation of the Minister for ACC given, in the case of regulations made under section 329(1)(hb)(i), after having received and considered a recommendation from the Accident Compensation Corporation made in accordance with section 234(1B) of that Act.
Contents
Regulations
1 Title
These regulations are the Accident Compensation (Interest Rates for Payment of Levies) Amendment Regulations 2026.
2 Commencement
These regulations come into force on 1 April 2026.
3 Principal regulations
These regulations amend the regulations that were previously called the Injury Prevention, Rehabilitation, and Compensation (Interest Rate for Late Payment of Levies) Regulations 2002.
4 Title of principal regulations changed
(1)
In regulation 1, replace “Injury Prevention, Rehabilitation, and Compensation (Interest Rate for Late Payment of Levies)”
with “Accident Compensation (Interest Rates for Payment of Levies)”
.
(2)
Every reference in any enactment or in any document to the Injury Prevention, Rehabilitation, and Compensation (Interest Rate for Late Payment of Levies) Regulations 2002 must, unless the context otherwise requires, be read as a reference to the Accident Compensation (Interest Rates for Payment of Levies) Regulations 2002.
5 New regulation 2A inserted (Interpretation)
After regulation 2, insert:
2A Interpretation
In these regulations, unless the context otherwise requires,—
instalment base rate means the monthly floating first mortgage new customer housing rate most recently reported by the Reserve Bank of New Zealand in their regular retail interest rates as at 1 April in the tax year in which the agreement was entered for collection of a levy by instalments
late payment base rate means the monthly floating first mortgage new customer housing rate most recently reported by the Reserve Bank of New Zealand in their regular retail interest rates as at 1 April in the tax year in which the interest accrues.
6 Regulation 3 amended (Interest rate for late payment of levies)
(1)
Replace regulation 3(a) with:
(a)
calculated, on a daily accrual basis, from the day after the date on which the payment is due at the monthly rate of interest set out in subclause (2); and
(2)
In regulation 3, insert as subclause (2):
(2)
The monthly rate of interest must be calculated as follows:
monthly rate of interest = [(late payment base rate + 2.5) ÷ 12] + 1
7 New regulation 3A inserted (Interest rate payable on levies collected by instalments)
After regulation 3, insert:
3A Interest rate payable on levies collected by instalments
(1)
Subclause (2) applies to a levy payer who has entered into an instalment plan under section 234 of the Act.
(2)
The amount of interest payable on the total amount of levy to be collected from the levy payer in instalments over a specified period of months, not exceeding 12 months, is the amount calculated in accordance with the following formula:
a × (((instalment base rate + 2.5) ÷ 12) ÷ 2) × b = c
where—
- a
is the total amount of levy to be collected as specified on the levy invoice issued to the levy payer
- b
is the number of months in the instalment period
- c
is the amount of interest payable rounded to 2 decimal places.
Rachel Hayward,
Clerk of the Executive Council.
Explanatory note
This note is not part of the regulations but is intended to indicate their general effect.
These regulations, which come into force on 1 April 2026, amend the Accident Compensation (Interest Rates for Payment of Levies) Regulations 2002 that were previously called the Injury Prevention, Rehabilitation, and Compensation (Interest Rate for Late Payment of Levies) Regulations 2002 (the principal regulations).
The amendments insert a formula into the principal regulations to calculate the penalty interest rate that is payable by a levy payer if they do not pay their levy invoice on time.
The amendments also insert a formula into the principal regulations to calculate the interest rate that applies to a levy after a levy payer has entered into an instalment plan under section 234 of the Accident Compensation Act 2001.
Regulatory impact statement
The Ministry of Business, Innovation, and Employment produced a regulatory impact statement on 13 December 2024 to help inform the decisions taken by the Government relating to the contents of this instrument.
A copy of this regulatory impact statement can be found at—
Date of notification in Gazette: 26 February 2026.
These regulations are administered by the Ministry of Business, Innovation, and Employment.
Versions
Accident Compensation (Interest Rates for Payment of Levies) Amendment Regulations 2026
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