✨ Miscellaneous Notices
NEW ZEALAND GAZETTE, No. 42 — 20 APRIL 2017
sufficient assets to meet the outstanding claims liability. Solvency is another term for funding ratio.
Funding Target
ACC’s funding target is a funding ratio of 105%. This is the midpoint of the funding band of 100% to 110%.
Investment Returns
The expected returns are based on current strategic asset allocations and are consistent with ACC’s long-term expected returns for the various asset classes that make up the total investment reserves. They allow for ACC’s tax status.
Labour Cost Index
The Labour Cost Index (LCI) measures changes in salary and wage rates for a fixed quantity and quality of labour input.
New-Year Claim Costs
Claims that occur during a new levy year. New-year claim costs are the net present value of the estimated lifetime cost of those claims.
Outstanding Claims Liability
The Outstanding Claims Liability (OCL) is an actuarial estimate of net present value of all future costs for accidents that have already happened including an allowance for claims incurred but not reported, and re-opened claims.
Risk-free Interest Rates
The risk-free interest rate is the theoretical rate of return of an investment with zero risk. It represents the nominal return an investor would expect from an absolutely risk-free investment over a given period of time.
Endnotes
- Additional information can be found in the Motor Vehicle Account Pricing Report for Consultation, which is available on request from ACC.
- ACC’s levy consultation website is www.shapeyouracc.co.nz. Consultation relating to the levy period took place between 21 September and 19 October 2016.
2017-au1738
Notice of Exemption From Maritime Rules: 19.3; 19.41; 19.42(1); 19.43(1); 19.45(1); 19.46(1); 19.62(1)
Pursuant to section 47(3) of the Maritime Transport Act 1994, the Director of Maritime New Zealand hereby notifies the granting, during the period from 1 March 2017 to 4 April 2017, of the following exemptions:
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5 from Maritime Rule 19.3 - Maritime Transport Operator - Certification and Responsibilities - Requirement to hold Maritime Transport Operator Certificate.
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5 from Maritime Rule 19.41 - Maritime Transport Operator - Certification and Responsibilities - Maritime Transport Operator Plan requirements.
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5 from Maritime Rule 19.42(1) - Maritime Transport Operator - Certification and Responsibilities - Develop and document maritime transport operator safety system in the Maritime Transport Operator Plan.
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5 from Maritime Rule 19.43(1) - Maritime Transport Operator - Certification and Responsibilities - Develop and apply a survey plan.
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5 from Maritime Rule 19.45(1) - Maritime Transport Operator - Certification and Responsibilities - Develop and apply a maintenance plan.
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5 from Maritime Rule 19.46(1) - Maritime Transport Operator - Certification and Responsibilities - Develop relevant safety equipment list and a spare parts list.
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5 from Maritime Rule 19.62(1) - Maritime Transport Operator - Certification and Responsibilities - Operating Requirements - Maritime transport operator responsible for safe ships - Valid Certificate of Survey issued under Rule 44.41.
Dated this 20th day of April 2017.
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NZ Gazette 2017, No 42
✨ LLM interpretation of page content
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Motor Vehicle Account Levy Information
(continued from previous page)
🏥 Health & Social WelfareACC, Motor Vehicle Account, Levy Rates, Insurance, Vehicle Owners, Funding Policy, Claims Experience, Economic Factors
🚂 Notice of Exemption From Maritime Rules
🚂 Transport & Communications20 April 2017
Maritime Transport Act 1994, Exemptions, Maritime Rules, Maritime Transport Operator, Certification, Safety Systems, Maintenance Plans, Survey Plans
- Director of Maritime New Zealand