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Financial Markets Authority Act 2011

Miscellaneous provisions - Transitional provisions - Disestablishment of office of Government Actuary

78: Consequences of disestablishment

You could also call this:

“What happens when the Government Actuary's office closes”

When the office of Government Actuary is closed, some changes will happen. These changes depend on whether the Financial Markets Authority (FMA) takes over the Government Actuary’s job or not.

If the FMA takes over, they will get all the information and documents the Government Actuary had. Anything the Government Actuary did, didn’t do, or was supposed to do will now be treated as if the FMA did it, didn’t do it, or is supposed to do it. Any legal cases involving the Government Actuary can now involve the FMA instead. The FMA can finish any work the Government Actuary started.

If the FMA doesn’t take over, a government department will handle these things instead. This department is in charge of the Superannuation Schemes Act 1989. The head of this department will take care of the tasks, information, and legal matters that the Government Actuary used to handle.

Moving information from the Government Actuary to the FMA or the department won’t be seen as interfering with anyone’s privacy under the Privacy Act 2020.

Closing the Government Actuary’s office doesn’t change any decisions made, actions taken, or legal cases started by the Government Actuary. It also doesn’t change anything else the Government Actuary did as part of their job.

These changes might have some exceptions, which are explained in another part of the law called section 80.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3231788.

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Part 4 Miscellaneous provisions
Transitional provisions: Disestablishment of office of Government Actuary

78Consequences of disestablishment

  1. On the commencement date, in respect of any function, duty, or power of the Government Actuary under any enactment for which the FMA is the successor,—

  2. all information and documents held by the Government Actuary are held by the FMA; and
    1. anything done, or omitted to be done, or that is to be done, by or in relation to the Government Actuary is to be treated as having been done, or having been omitted to be done, or to be done, by or in relation to the FMA; and
      1. the commencement, continuation, or enforcement of proceedings by or against the Government Actuary may instead be commenced, continued, or enforced by or against the FMA without amendment to the proceedings; and
        1. the completion of a matter or thing that would, but for this section, have been completed by the Government Actuary may be completed by the FMA.

          1. On the commencement date, in respect of any function, duty, or power of the Government Actuary under any enactment for which the FMA is not the successor,—

          2. all information and documents held by the Government Actuary are held by the department for the time being responsible for the administration of the Superannuation Schemes Act 1989 (the department); and
            1. anything done, or omitted to be done, or that is to be done, by or in relation to the Government Actuary is to be treated as having been done, or having been omitted to be done, or to be done, by or in relation to the chief executive of the department; and
              1. the commencement, continuation, or enforcement of proceedings by or against the Government Actuary may instead be commenced, continued, or enforced by or against the chief executive of the department without amendment to the proceedings; and
                1. the completion of a matter or thing that would, but for this section, have been completed by the Government Actuary may be completed by the chief executive of the department.

                  1. The transfer of information from the Government Actuary to the FMA under subsection (1)(a), or from the Government Actuary to the department under subsection (2)(a), does not constitute an action that is an interference with the privacy of an individual under section 69 of the Privacy Act 2020.

                  2. The disestablishment of the office of the Government Actuary does not, by itself, affect any of the following matters:

                  3. any decision made, or anything done or omitted to be done, by the Government Actuary in relation to the performance or exercise of his or her functions, powers, or duties under any enactment:
                    1. any proceedings commenced by or against the Government Actuary:
                      1. any other matter or thing arising out of the Government Actuary’s performance or exercise, or purported performance or exercise, of his or her functions, powers, or duties under any enactment.

                        1. This section is subject to section 80.

                        Notes
                        • Section 78(3): amended, on , by section 217 of the Privacy Act 2020 (2020 No 31).