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Accident Compensation Act 2001

Management of the Scheme - Purchase of weekly compensation for periods outside employment

224: Compensation for persons who purchase weekly compensation

You could also call this:

"Money for people who buy weekly payments from ACC if they get hurt and can't work"

If you buy the right to get weekly payments from ACC, you can get money if you get hurt and can't work. This is like getting money for losing the chance to earn money. The amount you get is based on what you and ACC agreed to when you bought the right to get weekly payments.

You can get this money if two things happen:

  1. You get hurt during the time you bought the weekly payments for.
  2. ACC covers your injury.

The rules for how much money you get and how it's paid are in different parts of the law. These parts are called Part 4 and Parts 2 and 4 of Schedule 1.

You can only get this money for up to 5 years from when you first couldn't work because of your injury.

There's one more thing to remember. If you start working again, there's a special rule in section 226 that might change how this works.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM102846.

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Part 6Management of the Scheme
Purchase of weekly compensation for periods outside employment

224Compensation for persons who purchase weekly compensation

  1. A person who has purchased the right to receive weekly compensation under section 223 is entitled to weekly compensation for loss of potential earning capacity as if that person had earnings at the rate specified in the relevant agreement between the person and the Corporation, and Part 4 and Parts 2 and 4 of Schedule 1 apply accordingly, if the person—

  2. suffers incapacity resulting from personal injury during the period for which the right to receive weekly compensation is applicable; and
    1. has cover in relation to the personal injury under Part 2.

      1. Weekly compensation for loss of potential earning capacity under this section is payable for not more than 5 years after the date on which incapacity first commenced.

      2. Subsection (1) is subject to section 226 (resumption of employment).