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Accident Compensation Act 2001

Transitional provisions relating to entitlements provided by Corporation (but not under Part 10) - Financial provisions

392: Allocation of existing funds

You could also call this:

“Moving money from old accounts to new accounts”

The law says you need to move money from old accounts to new accounts. This is how you should do it:

You should move the money from the Employers’ Account in the old law to the Employers’ Account in the new law.

You should move the money from the Earners’ Account in the old law to the Earners’ Account in the new law.

You should move the money from the Non-Earners’ Account in the old law to the Non-Earners’ Account in the new law.

You should move the money from the Motor Vehicle Account in the old law to the Motor Vehicle Account in the new law.

You should move the money from the Medical Misadventure Account in the old law to the Medical Misadventure Account in the new law.

You should move the money from the Self-Employed Work Account in the old law to the Self-Employed Work Account in the new law.

You should move the money from the Residual Claims Account in the old law to the Residual Claims Account in the new law.

When the law talks about funds, it means all the money and things that are owed in each account.

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"How to review or appeal old accident compensation decisions"

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393: Levies, premiums, and other payments under former Acts, or

"Old rules for accident insurance payments from before 2002"

Part 11 Transitional provisions relating to entitlements provided by Corporation (but not under Part 10)
Financial provisions

392Allocation of existing funds

  1. All funds held by the Corporation in any of the following Accounts under the Accident Insurance Act 1998 are to be allocated to the Accounts as follows:

  2. funds in the Employers' Account under section 281A of the Accident Insurance Act 1998 are to be allocated to the Employers' Account:
    1. funds in the Earners' Account under section 282 of that Act are to be allocated to the Earners' Account:
      1. funds in the Non-Earners' Account under section 290 of that Act are to be allocated to the Non-Earners' Account:
        1. funds in the Motor Vehicle Account under section 291 of that Act are to be allocated to the Motor Vehicle Account:
          1. funds in the Medical Misadventure Account under section 296 of that Act are to be allocated to the Medical Misadventure Account:
            1. funds in the Self-Employed Work Account under section 299 of that Act are to be allocated to the Self-Employed Work Account:
              1. funds in the Residual Claims Account under section 303 of that Act are to be allocated to the Residual Claims Account.

                1. In this section, funds means any assets and liabilities of the relevant account.

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