Student Loan Scheme Amendment Act 2013

Student Loan Scheme Amendment Act 2013

The Student Loan Scheme Amendment Bill (No 2) was introduced into Parliament on 23 August 2012, receiving its first reading on 20 September 2012, its second reading on 28 February 2013 and the third reading on 28 March 2013. It received Royal assent on 29 March 2013.

The new legislation brings into effect two key measures to:

• broaden the definition of income for student loan repayment purposes to align generally with that used for Working for Families Tax Credits, and
• implement an ongoing information-match with the New Zealand Customs Service to identify borrowers who are in serious default on their loans when they enter or leave New Zealand.

The new legislation also contains several administrative efficiency measures.

Supplementary Order Paper No 185 amended the transitional regulation-making provision in the new legislation to clarify its operation.

The Supplementary Order Paper also included several amendments to ensure clarity, alignment of terminology, and correction of certain references and cross-references to ensure the legislation operates as intended.

The new legislation amends the Student Loan Scheme Act 2011, the Accident Compensation Act 2001, the Customs and Excise Act 1996, the Privacy Act 1993, the Student Loan Scheme Amendment Act 2012, the Student Loan Scheme (Budget Measures) Amendment Act 2012, and the Tax Administration Act 1994.

All section references are to the Student Loan Scheme Act 2011 unless otherwise stated.