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Cabinet paper

Cabinet Paper CAB-19-SUB-0399: On-sold Canterbury Properties

Issue date: 
Wednesday, 2 October 2019
Version note: 

Some parts of this information release would not be appropriate to release and, if requested, would be withheld under the Official Information Act 1982 (the Act). Where this is the case, the relevant sections of the Act that would apply have been identified. Where information has been withheld, no public interest has been identified that would outweigh the reasons for withholding it.

Document Date: 
Monday, 12 Aug 2019
Publication category: 
Ministerial Portfolio: 
Earthquake Commission

Accessible HTML version

Only the Proposal and Executive Summary sections of this Cabinet paper are extracted below in HTML.  If you require a full HTML version please contact information@treasury.govt.nz and cite CAB-19-SUB-0399 as a reference.

Cabinet Paper CAB-19-SUB-0399: On-sold Canterbury Properties

Proposal

1. This paper seeks Cabinet agreement to a time-limited opt in package to provide for a timely, fair, and enduring resolution of on-sold over-cap claims resulting from the Canterbury earthquake sequence.

2. The proposed Government support package establishes the scope and nature of Government support to on-sold property owners, [9(2)(h)] The support package would:

2.1. Provide affected property owners a twelve month period to claim the cost of corrective repairs arising from failed or non-compliant EQC building work or damage missed from EQC assessments;

2.2. Payment would be made as a discretionary full and final payment in return for a waiver of rights to take further proceedings against the Earthquake Commission (the “EQC”).

3. This paper also seeks Cabinet agreement to a public education campaign aimed to raise awareness of the intended purpose and limits of EQC insurance assessments and the responsibilities of property owners (ie. claimants) under the Earthquake Commission Act 1993 (the “Act”).

[Extract ends]

Last updated: 
Wednesday, 2 October 2019