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Accident Compensation Act 2001

Management of the Scheme - Purchase of weekly compensation by shareholder-employees

190: Purchase of weekly compensation by shareholder-employees

You could also call this:

"Shareholder-employees can buy the right to get paid if they get hurt at work"

If you're a shareholder-employee, you can ask the Corporation to let you buy the right to get weekly compensation for lost earnings. This applies if you get hurt and are covered under this Act. You can choose how you want to receive this compensation.

When you apply to buy this right, the rules that usually apply to self-employed people will also apply to you. These rules are found in several sections of the Act and in some regulations. The Corporation will make some changes to these rules so they fit your situation as a shareholder-employee.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM102445.

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"Accredited employers must report to ACC and inform employees about claim processes"

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"How buying weekly compensation affects your employer's Work Account levy payment"

Part 6Management of the Scheme
Purchase of weekly compensation by shareholder-employees

190Purchase of weekly compensation by shareholder-employees

  1. A shareholder-employee may apply to purchase from the Corporation, in accordance with subsection (2), the right to receive weekly compensation provided in an agreed manner for loss of earnings as a shareholder-employee for any personal injury for which the shareholder-employee has cover under this Act.

  2. For the purposes of subsection (1), sections 174D, 175, 208(2), 209, 210, 211(1) and (2), and 212, and any relevant regulations made under this Act, apply with necessary modifications, as if the shareholder-employee were a self-employed person.

Notes
  • Section 190(1): amended, on , by section 19(1)(a) of the Accident Compensation Amendment Act 2010 (2010 No 1).
  • Section 190(1): amended, on , by section 19(1)(b) of the Accident Compensation Amendment Act 2010 (2010 No 1).
  • Section 190(2): amended, on , by section 11 of the Accident Compensation Amendment Act 2015 (2015 No 71).
  • Section 190(2): amended, on , by section 19(2) of the Accident Compensation Amendment Act 2010 (2010 No 1).