660 NEW ZEALAND GAZETTE No. 28

(h) by omitting from paragraph 2 (d) (i) the expression "6.10 percent" and substituting the expression "6.20 percent";

(i) by omitting from paragraph 2 (d) (ii) the expression "6.20 percent" and substituting the expression "6.30 percent";

(j) by omitting from paragraph 2 (d) (iii) the expression "6.20 percent" and substituting the expression "6.40 percent";

(k) by omitting from paragraph 2 (e) (ii) the expression "6.70 percent" and substituting the expression "6.60 percent";

(l) by omitting from paragraph 2 (e) (iii) the expression "6.70 percent" and substituting the expression "6.65 percent".

3. Transitional provisions—(1) Paragraph 2 of this notice shall not apply to any interest payable in respect of the period that ends with the 22nd day of March 2000.

(2) Paragraph 2 (a) of this notice shall apply—

(i) to agencies that commenced prior to the 23rd day of March 2000, as from that date;

(ii) to agencies commenced on or after the 23rd day of March 2000; as from the date of their commencement.

(3) Paragraphs 2 (b) to 2 (l) inclusive of this notice—

(i) shall not apply to agencies that commenced prior to the 23rd day of March 2000, but

(ii) shall apply to agencies that commenced on or after the 23rd day of March 2000, as from the date of their commencement.

Dated at Wellington this 21st day of March 2000.

Signed for and on behalf of the Secretary to the Treasury by:
MICHAEL JAMES, Director,
Energy/SOEs/Treaty Directorate.

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Authorities and Other Agencies of State Notices

Accident Rehabilitation and Compensation Insurance Corporation

Accident Insurance Act 1998

Recommendations from Consultation on the Self-Employed Work Account Premium Regulations 2000

ACC has recommended to the Minister for Accident Insurance that the average self-employed work premium be reduced by 16% from $1.85 to $1.56 per $100.00 of earnings.

Legislative Change

Parliament is currently considering a Bill designed to make changes to the competitive provision of accident insurance. This Bill, the Accident Insurance (Transitional Provisions) Bill, was introduced into Parliament before Christmas and it is expected it will become law by 1 April 2000.

For self-employed people, the Bill focuses on removing the ability of the self-employed to choose an insurer other than ACC from 1 April 2000. There will be no change for those self-employed people who remained with ACC. However, those who have chosen to be covered by a private insurer will be returned to ACC for cover from 1 July 2000.

Self-Employed Work Account Premium Rates

The Self-employed Work Account pays for the costs associated with the work related personal injuries of those self-employed people and private domestic workers who are insured with ACC.

The Accident Insurance Act 1998 requires that self-employed work premiums be calculated on a full funded basis and are to include a competitive neutrality component. The Minister for Accident Insurance issued a policy direction on 13 December 1999, that the competitive neutrality portion is to be a nil amount.

As required by section 409 of the Act, ACC has completed consultation with premium payers, and has recommended the self-employed work account premiums to the Minister for Accident Insurance.

ACC recommended a 16% decrease in the average premium rate from $1.85 to $1.56 per $100.00 of liable earnings, G.S.T. exclusive, with the following components:

• An average income related benefit premium rate of $1.07 that has been calculated to provide funding for income related benefit costs (e.g. weekly compensation);

• An average non-income related benefit premium rate of $0.49. This has been calculated to provide funding for non-income related benefit costs (e.g. independence allowance, medical treatment costs, rehabilitation benefits etc). These benefits are not related to the level of income earned by the injured person. Rather they are a uniform benefit per person.

Individual premiums for each classification will be finalised and incorporated into draft regulations by the Department of Labour.

A copy of the recommendation may be obtained by contacting the ACC Business Service Centre on telephone: 0800 222 776.

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Land Transport Safety Authority

Traffic Regulations 1976

Exemption From Specified Requirements of the Traffic Regulations 1976

Pursuant to regulation 90 (1) of the Traffic Regulations 1976, I, James Lindsay Graham Bell, Vehicle Compliance Officer, hereby exempt the motor vehicle specified in Schedule 1 of this notice from the requirements of the Traffic Regulations 1976 listed in Schedule 2, subject to the conditions specified in Schedule 3.

Schedule 1
Vehicle details

Make: Porsche
Model: 356
Year of Manufacture: 1962