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Accident Compensation Act 2001

Management of the Scheme - General levy provisions

234: Levies may be collected by instalments

You could also call this:

“You can pay your levy in smaller parts over time, with possible extra costs”

The Corporation can let you pay your levy in smaller parts over time if you agree to it. This is called paying by instalments. The Corporation might charge you interest on the levy if you pay this way. The amount of interest or how it’s worked out will be set by rules called regulations.

Before the Corporation suggests what the interest rate should be, they have to talk to the people who pay levies to get their thoughts. The Corporation can also charge you a fair fee to cover their costs for letting you pay in instalments. This fee is added to your levy when they collect it.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM102890.

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Part 6 Management of the Scheme
General levy provisions

234Levies may be collected by instalments

  1. The Corporation may collect any levy by instalments if the person liable to pay the levy agrees.

  2. The Corporation may charge interest as prescribed by regulations on any levy collected by instalments.

  3. The Corporation must consult levy payers on the proposed rate of interest payable on a levy collected by instalments or the proposed method by which the rate is to be calculated before recommending to the Minister that regulations be made prescribing the rate of interest or method by which the rate is to be calculated.

  4. The Corporation may charge a reasonable fee to recover its costs of collecting any levy by instalments.

  5. A fee charged under subsection (2) forms part of the associated levy for collection purposes.

Notes
  • Section 234(1A): inserted, on , by section 4 of the Accident Compensation (Interest on Instalment Plans) Amendment Act 2024 (2024 No 24).
  • Section 234(1B): inserted, on , by section 4 of the Accident Compensation (Interest on Instalment Plans) Amendment Act 2024 (2024 No 24).