Numb. 55.

533

THE
NEW ZEALAND GAZETTE.
Published by Authority.

WELLINGTON, THURSDAY, SEPTEMBER 18, 1873.

Conditions of Policies under the New Zealand
Government Insurance and Annuities Acts.
—

JAMES FERGUSSON, Governor.
ORDER IN COUNCIL.

At the Government House, at Wellington, this
seventeenth day of September, 1873.
Present:

HIS EXCELLENCY THE GOVERNOR IN COUNCIL.

WHEREAS by the New Zealand Government
Insurance and Annuities Acts, 1869 and
1870, it is, amongst other things, provided that it
shall be lawful for the Governor in Council from
time to time to make any regulations for carrying
the said Acts into effect, and any such regulations to
alter, amend, or revoke; and also to regulate the
mode and form of making contracts under the said
Acts as therein respectively mentioned: And whereas
by an Order in Council made under the said Acts,
bearing date the fourth day of June, one thousand
eight hundred and seventy-three, and published in
the New Zealand Gazette of the sixth day of June
aforesaid, after reciting as therein is particularly
recited, the Regulations therein mentioned were made
and ordained: And whereas it is expedient that the
conditions which attach to policies of life insurance
mentioned and set forth in the twenty-first of the
said Regulations should be altered, and that other
conditions should be made as hereinafter provided :

Now therefore, His Excellency Sir James Fer-
gusson, Baronet, the Governor of the Colony of New
Zealand, in exercise and pursuance of the power and
authority vested in him by the said Acts, and by and
with the advice of the Executive Council of the said
Colony, do hereby order and declare that the con-
ditions set forth in the said twenty-first Regulation
shall be and the same are hereby revoked, and in lieu
thereof that the conditions hereinafter set forth shall
be and be deemed to be the conditions to which life
insurance policies shall be subject, as provided by the
said Regulation, that is to say:—

CONDITIONS OF POLICIES.

Policies shall become void if the statements of
the proposer, as set forth in the proposal, or of the
person or persons examined by the Medical Examiner,
as set forth in the medical examination, or any of
such statements respectively, be untrue; or if any
other paper or statement furnished by the proposer,
or at his instance, on the faith of which the policy
may have been issued, shall at any time be found to
contain any wilfully untrue statement; or if there
shall at any time be or have been any fraudulent
concealment from the Commissioner of any important
particular.

Policies shall become void if payment of the
annual or other premium be not made within thirty
days from the date stipulated in the policy; but such
policies may be revived at any period not exceeding
twelve calendar months after their expiration, on
satisfactory proof being given of the unimpaired
health of the person whose life is assured, and on
payment of the premiums then in arrear, together
with a fine not exceeding one-half per centum on the
sum assured :

Provided that no policy which shall have been in
force for twelve calendar months shall be forfeited by
reason of such non-payment of premium until the
expiration of a term of temporary insurance, to be
calculated upon the surrender-value of the policy at
the date of such non-payment of premium, in accord-
ance with and to be subject to the provisions of
Regulation No. 27 of the 4th June, 1873 :

Provided also that no policy which shall have been
in force for three years shall be wholly forfeited by
such non-payment of premium, if the assured shall,
within three months after such policy has lapsed,
make application for a paid-up policy; and upon such
application the Commissioner shall issue a paid-up
policy equivalent to the surrender-value of the
original policy at the date of such non-payment of
premium: Provided further that such paid-up policy,
when issued, shall be subject to all the terms, con-
ditions, and liabilities of the original policy.

The sum assured under any policy will be paid
in case of the death of the person whose life is
assured during the days of grace (thirty days), not-
withstanding the non-payment of the premium; but
the amount so remaining unpaid shall be deducted
from the sum assured at settlement.