Consultation requirements for regulations relating to levy setting
(1) The Minister may not recommend the making of regulations under this Act prescribing the rates of levies unless the Minister has first received and considered a recommendation from the Corporation made in accordance with the provisions of this section.
(2) The Corporation must consult levy payers before recommending to the Minister that such regulations be made, and that obligation to consult is satisfied if—
(a) the Corporation publicly notifies its intention to recommend to the Minister that such regulations be made by publishing in the Gazette, and in a daily newspaper circulating in each of the cities of Auckland, Hamilton, Wellington, Christchurch, and Dunedin, a notice—
(i) stating that the Corporation is proposing to recommend that such regulations be made; and
(ii) [Repealed]
(iii) explaining the Corporation's proposal to recommend the making of the proposed regulations, or stating where a copy of that explanation may be obtained; and
(iv) stating where copies of the Corporation's policy on fully funding outstanding claims liabilities may be obtained; and
(v) stating where copies of any actuarial valuation on which levies are based may be obtained; and
(vi) inviting members of the public to make written submissions on the proposed regulations; and
(vii) stating the last date on which the Corporation will receive written submissions on the proposed regulations (which date must be not less than 28 days after the date of the publication of the notice in the Gazette); and
(b) the Corporation considers all submissions on the proposed regulations that are received by the Corporation not later than the date stated under paragraph (a)(vii).
(4) The Corporation must, after recommending to the Minister the making of regulations under this Act prescribing the rates of levies, publish in the Gazette, and in a daily newspaper circulating in each of the cities of Auckland, Hamilton, Wellington, Christchurch, and Dunedin, a notice—
(a) stating that such a recommendation has been made; and
(b) stating where copies of the recommendation, and any information that accompanied the recommendation, may be obtained.
(5) Nothing in this section obliges the Minister to accept the Corporation's recommendation or prevents the Minister recommending that the regulations prescribe rates of levies different from the rates recommended by the Corporation.
(6) The consultation procedure contained in subsection (2) constitutes a code that sets out all the obligations of the Corporation in relation to consultation over the process of recommending to the Minister that regulations be made.
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