New Zealand Legislation: Regulations
Regulations are laws made under Acts
(1) Regulations 11 and 12 deal with the Government Actuary’s function under the Act and a court’s function under the KiwiSaver scheme rules of considering whether a KiwiSaver scheme complies with clause 2 of the KiwiSaver scheme rules (which requires fees not to be unreasonable) (the fees assessment).
(2) The purpose of these regulations is to prescribe a process for the Government Actuary’s fees assessment and the matters to which the Government Actuary or a court must have regard in carrying out a fees assessment (see section 127 of the Act and clause 2 of the KiwiSaver scheme rules).
(3) Neither regulation 11 nor regulation 12 prevents the Government Actuary or the court from considering any other matter that the Government Actuary or the court considers relevant.