Formats and related files
Accessible HTML version
Only the Proposal section of this Cabinet paper is extracted below in HTML. If you require a full HTML version please contact [email protected] and cite CAB-20-SUB-0039 as a reference.
Cabinet Paper CAB-20-SUB-0039: Mixed-use Buildings under the Earthquake Commission Act
Proposal
- This paper seeks agreement to proposed amendments to the Earthquake Commission Act 1993 (EQC Act) to be introduced in 2020. The amendment will focus on EQC cover of mixed-use buildings, and the EQC Act definition of ‘residential building’, which is a key determinant of the extent of EQC cover provided for a building. The amendments intend to ensure that the EQC Act equitably accounts for homeowners’[1] use of, and interest in, common areas in mixed-use buildings.
- [9(2)(f)(iv)] This paper sets out the proposed amendments to be progressed through the Bill, with a focus on the coverage of mixed-use buildings under the EQC Act, and the Act’s definition of ‘residential building’.
- I previously noted my intention to progress this work as part of reporting on the Treasury’s analysis on property insurance markets (DEV-19-Min-0332 and CAB-19- MIN-0675 refer).
Note
- [1] This paper uses the term ‘homeowners’ to refer to owners of residential dwellings in a mixed-use building.
[Extract ends]
Last updated:
Monday, 1 February 2021