23 AUGUST NEW ZEALAND GAZETTE 2519

Private Bills

TOWER Trust Limited Bill

The Trustees, Executors, and Agency Company Act 1882

TOWER Trust Limited Bill

Notice of Intention to Promote a Private Bill—TOWER Trust Limited Bill

The Trustees, Executors, and Agency Company of New Zealand (Limited) (TEA) intends to promote the TOWER Trust Limited Bill (“the Bill”) by petitioning the House of Representatives to introduce the Bill during the present session of Parliament or during an adjournment as the circumstances require.

The objects of the Bill are to:

1. Provide for a change of name by TEA to TOWER Trust Limited;

2. Expressly authorise TOWER Trust Limited to transact with any present related company business in connection with any estate or trust property that TEA administers;

3. Consolidate and amend the provisions of the Trustees, Executors, and Agency Company Act 1882 and its amendments.

Any communications to TEA as the Promoter of this Bill may be sent care of Phillips Fox, Lawyers, Tower Building, 50-64 Customhouse Quay (P.O. Box 2791), Wellington (Attention: T. R. Matthews).

A copy of the Bill has been deposited in the Wellington District Court, 43-49 Ballance Street, Wellington (telephone (04) 918 8000), and is open to public inspection during office hours, without a fee, for a period of 15 working days from the date of this notice.

The Bill may also be inspected at the Wellington offices of Phillips Fox (address above).

PHILLIPS FOX, Lawyers, for the Promoter of the Bill.

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Departmental Notices

Accident Compensation Corporation

Accident Insurance Act 1998

Consultation on Proposed 2002/03 ACC Premium and Levy Rates

ACC will be consulting on regulations for the 2002/03 premiums and levies for the following Accounts:

• Employers’;
• Self-employed Work;
• Earners’;
• Motor Vehicle; and
• Residual Claims.

Premiums will pay for the costs associated with injuries sustained during the period 1 April 2002 to 31 March 2003. Levies will fund the ongoing costs of injuries that occurred before 1 July 1999.

ACC is keen to have public input on its pricing proposals before it makes recommendations to the Minister for Accident Insurance in October 2001.

ACC would like to invite premium payers to make submissions on the following proposed rates and regulations which also includes the funding requirements for the increased range and scope of entitlements incorporated in the Injury Prevention, and Rehabilitation Bill (Bill). They are as follows:

Employers’ Account

The net average premium is proposed to reduce by 11% to $0.76c per $100.00 of payroll (currently an average of $0.85c).

ACC is able to propose a reduction in workers’ compensation because:

• workplace injuries are down;
• rehabilitation is working well; and
• the tail of long term claimants has reduced.

This reduction reflects ACC’s success in increasing the emphasis on workplace safety practices. Changes in the scope and range of entitlements incorporated within the Bill are included in this rate.

Self-employed Work Account

The average premium is proposed to increase by 25% to $1.69 per $100.00 of liable earnings (currently an average of $1.35).

The increases reflect the recent increases in the number of self-employed injuries and the costs of managing these claims. Changes in the scope and range of entitlements incorporated within the Bill also included in this rate.

Earners’ Account

It is proposed that the combined earner premium and levy remain at $1.10 (G.S.T. inclusive) per $100.00 of earnings.

Changes in the scope and range of entitlements incorporated within the Bill are also included in this rate.