Num. 23.

449

SUPPLEMENT
TO THE
NEW ZEALAND GAZETTE
OF
THURSDAY, APRIL 16, 1885.
Published by Authority.

WELLINGTON, FRIDAY, APRIL 17, 1885.

Regulations under “The New Zealand Government Insurance Association Act, 1884.”

WM. F. DRUMMOND JERVOIS,
Governor.

ORDER IN COUNCIL.

At the Government House, at Wellington, this eighth day of April, 1885.

Present:

HIS EXCELLENCY THE GOVERNOR IN COUNCIL.

HIS Excellency the Governor of the Colony of New Zealand, in exercise and pursuance of the powers and authorities vested in him by the forty-ninth section of “The New Zealand Government Insurance Association Act, 1884” (hereinafter referred to as “the said Act”), and all other powers and authorities in this behalf vested in him, and by and with the advice and consent of the Executive Council of the said colony, doth hereby repeal the regulations contained in the Schedules to an Order in Council dated the thirteenth day of February, one thousand eight hundred and eighty-three, and doth make and prescribe the rules and regulations set forth in the First Schedule hereto.

And in further exercise and pursuance of the said powers and authorities as aforesaid, and with such advice and consent as aforesaid, His Excellency doth hereby revoke all the tables for determining the value of annuities and for payment of sums of money at death or otherwise heretofore approved and in use under the said Act, and doth, for the purposes of the said Act and the said regulations, approve of the tables set forth in the Second Schedule hereto, and doth direct the use of such tables as last aforesaid under and for the purposes of the said Act and regulations.

FIRST SCHEDULE.
Interpretation.

1. IN these regulations, and in all policies or instruments purporting to be made or executed thereunder, if not inconsistent with the context,—

“ The said Act ” means “ The New Zealand Government Insurance Association Act, 1884 : ”

“ The Board ” means the Central Board of Directors constituted under the said Act :

“ Policy ” means an instrument in writing, or partly in writing and partly printed, containing any contract whatever made under these regulations dependent upon the contingencies of human life ;

“ Life-insurance policy ” means a policy the sum assured by which is payable upon the death of the person whose life is insured whenever that event may occur, or upon his death if it happen within a specified term :

“ Endowment-insurance policy ” means a policy the sum assured by which is payable at a certain date, or upon the death of the person whose life is insured if it happen before such date :

“ Premium ” means the periodical or other payment for any policy, or the purchase-money for such policy :

“ Agent ” means a person duly appointed under these regulations to receive proposals for the purposes of the said Act and regulations.

2. The Board may from time to time appoint agents to receive proposals for insurance of lives, or for the grant of endowments or annuities, or for any other policies authorized by the said Act or otherwise, and to receive any premiums payable upon such policies or any payments in respect of such endowments or annuities, and to give valid and sufficient receipts for the same respectively ; and such appointments may from time to time revoke or alter.

Postmasters may be Agents.

3. The Postmaster at any post office may be appointed by the Board as an agent for all or any one or more of the purposes mentioned in the immediately-preceding regulation, and to receive and pay moneys under the said Act.

Agents’ Authority limited.

4. Agents shall have no authority to enter into, alter, or discharge contracts made under the said Act or under these regulations, or in any way bind the Board, other than as such agents may be specially empowered so to do by their appointments or by these regulations.

Form of making Proposals.

5. Any person desiring to enter into any contract under the said Act (herein referred to as “ the proposer ”) shall make his proposal for the same in a form applicable thereto, and shall make and sign the declaration or declarations required by the Board.

When Medical Examination necessary.

6. Every person whose life is proposed for insurance under a life-insurance or endowment-insurance policy shall, when required by the Board, present himself for medical examination by a legally-qualified medical practitioner duly authorized by the Board for that purpose. Such medical examination shall be conducted according to a form supplied by the Board, and applicable to the special transaction.