Cabinet paper

Cabinet Paper DEV-20-SUB-0039: Mixed-use Buildings Under the Earthquake Commission Act 1993

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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

  1. 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.
  2. [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’.
  3. 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. [1] This paper uses the term ‘homeowners’ to refer to owners of residential dwellings in a mixed-use building.

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