Quality Product Research: Medical - Major review process commenced for UCR Limit
Brian Klee retires

Legal and regulatory update for the life and health insurance sector

8 March 2022 – Daily Progress report on Bills in Parliament on this day indicates as follows:

  • The Taxation (Annual Rates for 2021-22, GST, and Remedial Matters) Bill was read a second time.
  • The Statutes Amendment Bill was read a first time and referred to the Governance and Administration Committee with report back due on 22 Sept 2022.
  • The Retail Payment System Bill was reported back from Select Committee.
  • The committee stage of the Commerce Amendment Bill was completed.
  • The committee stage of the Protected Disclosures (Protection of Whistleblowers) Bill was completed.
  • The committee stage of the Incorporated Societies Bill was completed.

https://www.parliament.nz/en/pb/daily-progress-in-the-house/daily-progress-for-tuesday-8-march-2022/

8 March 2022 – IRD issued a consultation on GST apportionment and adjustment rules with submissions closing on 27 April 2022. https://www.taxpolicy.ird.govt.nz/news/2022/2022-03-08-consultation-gst-apportionment

9 March 2022 – RBNZ published its feedback to responses received on the draft interim solvency standard for insurers, which determines the minimum amounts of capital that insurers must hold. https://www.rbnz.govt.nz/news/2022/03/interim-insurance-solvency-standard-refined-by-feedback

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