2 OCTOBER NEW ZEALAND GAZETTE 3321

Departmental Notices

Accident Rehabilitation and Compensation Insurance Corporation

Accident Rehabilitation and Compensation Insurance Act 1992

Reserves Policy

Section 128 (4) of the Accident Rehabilitation and Compensation Insurance Act 1992, requires the Minister for ARCI by 30 September 1997, to publish in the New Zealand Gazette and lay before the House of Representatives a copy of the reserves policy of the Accident Rehabilitation and Compensation Insurance Corporation (ACC).

The ACC reserves policy is that:

“Premiums shall be set with the intention of meeting the current cost of claims and administration-related expenses in the year in which the premiums apply (the “pay-as-you-go” cost), subject to adjustment relating to the level of reserves as described below.

The scheme shall hold reserves to:

(a) Minimise the likelihood that short-term borrowing will be required as a result of:

(i) Unfavourable variations from forecast expenditure and/or income; or

(ii) The need for working capital; and

(b) Allow the progression of premium rates to be smoothed having regard to:

(i) Adjustments needed to restore reserves to the target level; and

(ii) Expected changes in the pay-as-you-go costs for future years.

The target level of reserves at the end of a premium year is the equivalent of 6 months of the subsequent years’ pay-as-you-go cost.

Premiums may be set at rates other than the pay-as-you-go cost, and reserves may be maintained at levels other than the target, under the following conditions:

(a) Reserves shall be restored to the target level over a reasonable period (generally not to exceed 5 years); and

(b) A negative reserve shall be eliminated as soon as practicable.”

The reserves policy only applies to the Employers’, Earners’ and Motor Vehicle Accounts (and Medical Misadventure in the event of a separate premium for this account being introduced in future).

Hon. JENNY SHIPLEY, Minister for ARCI.

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Commerce

Dumping and Countervailing Duties Act 1988

Completion of Review and Initiation of Reassessment: Hog Bristle Paintbrushes From China

Pursuant to section 14 (8) of the Dumping and Countervailing Duties Act 1988 (“the Act”), and under delegated authority from the Secretary of Commerce, having carried out a review of the imposition of anti-dumping duty in respect of imports into New Zealand of hog bristle paintbrushes from China, and following the completion of that review, pursuant to section 14 (6) of the Act, I hereby give the following notice.

Notice

1. Title and Commencement—(1) This notice may be cited as the Completion of Review and Initiation of Reassessment: Hog Bristle Paintbrushes from China.

(2) I have completed the review and determined that the continued imposition of anti-dumping duties, on the goods described in the Schedule to this notice, is necessary to prevent a recurrence of material injury to the New Zealand industry producing like goods.

(3) I have initiated a reassessment of the amount of anti-dumping duty in respect of imports into New Zealand of the goods described in the Schedule.

Schedule

Goods Subject to Review

Country of Origin
The Peoples Republic of China.

Description of Goods
Hog bristle paintbrushes for household or industrial use.

Dated at Wellington this 19th day of September 1997.

A. H. McPHAIL, Manager, Trade Remedies Group.

A copy of the non-confidential version of the Review Report which contains details of the review and the conclusions reached, is available from the Manager, Trade Remedies Group, Ministry of Commerce, P.O. Box 1473, Wellington.

Invitation for Submissions on Reassessment

Interested parties are invited to make submissions to the Manager, Trade Remedies Group, Ministry of Commerce, P.O. Box 1473, Wellington.

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Securities Act 1978

Approval of Associations of Accountants Constituted Outside New Zealand

Pursuant to section 2c (1) of the Securities Act 1978, I hereby declare

The Institute of Chartered Accountants in Australia
The Association of Authorised Public Accountants
Australian Society of Certified Practising Accountants