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h) You are not entitled to request the account number of the account from Westpac and Westpac will not disclose
that account number to you.
i) Bank account statements will not be issued to you, but copies of bank account statements will be made available
to you or Work and Income for audit purposes and if requested for dispute resolution.
j) Westpac is authorised to receive from the competent authority information about your overseas pension
payments, and to give that information to Work and Income where necessary to administer the special
arrangement.
k) No charges will be made to you for the operation of the account in accordance with the authority.
l) Subject to paragraph (m), you will be entitled to-
i) request Westpac to close the account at any time; or
ii) revoke the authority to the competent authority or Westpac, but the revocation will not be effective
until after the date on which the account is closed in accordance with the authority referred to in
paragraph (m).
m) If you request the account be closed, or if you revoke the authority to Westpac, or if Westpac receives the notice
that you have revoked the authority given to the competent authority, or if Westpac decides to close the account
in accordance with the authority referred to in paragraph (c)-
i) You shall not be entitled to withdraw any credit balance in the account; and
ii) Westpac shall be entitled to-
A) Transfer any monies in the account to Work and Income; and
B) Close the account; and
C) Notify Work and Income of the reason for the closure.
10 The Chief Executive may terminate the alternative arrangement if you fail to comply with any condition set out in
regulation 3 (2) of the Regulations
4
.
2
Section 70(3) (b) is the section under which the Chief Executive is able to make payment of the rate of your New Zealand benefit or benefits that would be
payable if the Chief Executive was not required to deduct the amount of your overseas pension from it or them.
3
This means your overseas pension is paid to the Chief Executive in return for the Chief Executive making payments under Section 70 (3) (b) of the Social Security
Act.
4
The conditions set out in regulation 3 (2) of the Regulations are set out in Extract from Regulations on the next page.
4 The circumstances referred to in clause 3(c) are those set out in regulation 3 (3) of the Regulations, namely-
a) If Westpac receives notice from the Chief Executive that the alternative arrangement
with you has ceased; or
b) If Westpac receives notice from the Chief Executive that the Chief Executive has
terminated the alternative arrangement with you; or
c) If you attempt to operate the special bank account for a purpose for which it may not be
operated under the regulations; or
d) If Westpac is notified, by means on which it is reasonable to rely, that-
i) You have ceased to reside in New Zealand; or
ii) You have died.
5 You agree that the Chief Executive, Westpac, and competent authority may disclose to one another –
a) Information about your special account; and
b) Information about payments of the overseas pension made to the special bank account-
If disclosure is necessary to facilitate the administration of the alternative arrangement or the special account.
6 No payment under section 70 (3) (b)
2
of the Social Security Act 1964 shall be made before 1 July 2002.
7 The disposition of your overseas pension to the Chief Executive under the arrangement is made in consideration of the
Chief Executive making payments to you under that section
3
.
8 The alternative arrangement will not apply to the following payments of your overseas pension made to the special
account (except where the authority you have given Westpac to transfer the balance in the special account to Work and
Income still applies) and any such payments will be dealt with under the normal provisions of section 70 (1) of the Social
Security Act 1964 and the Income Tax Act 1994:
a) Any payment (including arrears) made in respect of a period before the later of the following dates-
i) The date you accept the offer to make the arrangement; or
ii) 1 July 2002; and
b) Any part of a payment that relates to such a period.
9 The alternative arrangement will cease if-
a) Westpac closes the special account in accordance with the authority given it; or
b) You give the Chief Executive written notice that the arrangement is to cease; or
c) The Chief Executive determines that you either never have been or are no longer –
i) Entitled to a benefit; or
ii) Entitled to enter into an alternative arrangement; or
d) You cease to reside in New Zealand; or
e) You are adjudicated bankrupt; or
f) You die.
