An Amendment Act came into force on 1 January 2020 to clarify the extent of the liabilities of insurers (or, in the case of financial security, the persons providing the financial security) to the Crown and to other third parties entitled to claim compensation from an owner as a result of an oil spill.
Amendments to Marine Protection Rules Part 102: Certificates of Insurance (Part 102); and Marine Protection Rules Part 131: Offshore Installations – Oil Spill Contingency Plans and Oil Prevention Certification (Part 131), made under the Maritime Transport Act 1994 were also required to support changes to New Zealand’s offshore financial security regime.
These rules were gazetted on 23 April 2020.
The rules will be in force on 27 May 2020.
A copy of the cabinet paper and coversheet has been proactively released.
- Cabinet Paper: New Zealand’s Financial Security regime for Offshore Installations – Proposed Amendments to Marine Protection Rules [PDF, 552 KB]
- Cover Paper Coversheet: New Zealand’s Financial Security regime for Offshore Installations – 2019 Proposed Amendments to Marine Protection Rules [PDF, 105 KB]
Previous amendment and consultation documents February 2017 - January 2018)
- Draft Rule [PDF, 2.9 MB]
- Cabinet Paper: Amendments to the Financial Security Regime for Offshore Installations [PDF, 66 KB]
- Questions and answers about the Financial security regime for offshore installations [PDF, 314 KB]