New Zealand Legislation: Regulations

24 What member of KiwiSaver scheme must do first to participate in mortgage diversion facility

• A member of a KiwiSaver scheme who wishes to participate in the mortgage diversion facility in respect of a mortgage must—

  • (a) request, before 1 June 2009, his or her mortgagee to participate in the mortgage diversion facility in respect of the mortgage and to have KiwiSaver contributions diverted for that mortgage; and

  • (b) give to the mortgagee a statutory declaration that the property that is mortgaged is his or her principal residence; and

  • (c) give notice to the mortgagee of the name and address of the provider of the KiwiSaver scheme.

  Regulation 24: added, on 1 July 2007, by regulation 4 of the KiwiSaver Amendment Regulations 2007 (SR 2007/152).

  Regulation 24(a): amended, on 1 June 2009, by section 8 of the Taxation (Budget Tax Measures) Act 2009 (2009 No 14).