24Functions of SIRA

24 Functions of SIRA

24 Functions of SIRA

(1) SIRA has such functions as are conferred or imposed on it by or under this or any other Act (including under the workers compensation and motor accidents legislation and the Home Building Act 1989).

(2) The functions of SIRA also include the following—

(a) to collect and analyse information on prudential matters in relation to insurers under the workers compensation and motor accidents legislation and the Home Building Act 1989,

(b) to encourage and promote the carrying out of sound prudential practices by insurers under that legislation and the Home Building Act 1989,

(c) to evaluate the effectiveness and carrying out of those practices.

(3) In this section, a reference to an insurer under the Home Building Act 1989 includes a reference to the provider of an alternative indemnity product under that Act.

s 24: Am 2017 No 28, Sch 2.6 [1] [2].