The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

These regulations are administered by the Ministry of Business, Innovation, and Employment.

Pursuant to sections 329(i) and 333 of the Injury Prevention, Rehabilitation, and Compensation Act 2001, Her Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.

1	Title
2	Commencement
3	Interest rate for late payment of levies
4	Revocations
	Gazette Information
	Notes

Regulations

1 Title

These regulations are the Injury Prevention, Rehabilitation, and Compensation (Interest Rate for Late Payment of Levies) Regulations 2002.

2 Commencement

These regulations come into force on 1 April 2002.

3 Interest rate for late payment of levies

The interest payable to the Corporation on any unpaid levy, any unpaid instalment payment in respect of any levy, and any unpaid interest that has been charged already must be—

(a)

calculated from the day after the date on which the payment is due at the rate of 1% per month; and

(b)

compounded monthly.

Regulation 3(a): amended, on 1 July 2023, by section 22 of the Accident Compensation (Maternal Birth Injury and Other Matters) Amendment Act 2022 (2022 No 51).

Regulation 3(a): amended, on 1 August 2008, by section 34(2) of the Injury Prevention, Rehabilitation, and Compensation Amendment Act 2008 (2008 No 46).

4 Revocations

The following regulations are revoked:

(a)

Accident Insurance (Premium Payment Procedures) Regulations 1999 (SR 1999/196):

(b)

Accident Insurance (Premium Payment Procedures) Amendment Regulations 2000 (SR 2000/127).

Marie Shroff,
Clerk of the Executive Council.

Issued under the authority of the Legislation Act 2019.

Date of notification in Gazette: 28 February 2002.

Notes

1 General

This is a consolidation of the Injury Prevention, Rehabilitation, and Compensation (Interest Rate for Late Payment of Levies) Regulations 2002 that incorporates the amendments made to the regulations so that it shows the law as at its stated date.

2 Legal status

A consolidation is taken to correctly state, as at its stated date, the law enacted or made by the legislation consolidated and by the amendments. This presumption applies unless the contrary is shown.

Section 78 of the Legislation Act 2019 provides that this consolidation, published as an electronic version, is an official version. A printed version of legislation that is produced directly from this official electronic version is also an official version.

3 Editorial and format changes

The Parliamentary Counsel Office makes editorial and format changes to consolidations using the powers under subpart 2 of Part 3 of the Legislation Act 2019. See also PCO editorial conventions for consolidations.

4 Amendments incorporated in this consolidation

Accident Compensation (Maternal Birth Injury and Other Matters) Amendment Act 2022 (2022 No 51): section 22

Injury Prevention, Rehabilitation, and Compensation Amendment Act 2008 (2008 No 46): section 34(2)

Injury Prevention, Rehabilitation, and Compensation (Interest Rate for Late Payment of Levies) Regulations 2002