The Reserve Bank of New Zealand (RBNZ) has published exemptions under the Insurance (Prudential Supervision) Act, which comes into effect on June 30.

The exemptions will be mainly for companies that comply with regulations in their home jurisdictions that are on a par with New Zealand’s.

The RBNZ says it has also allowed exemptions from the requirement to supply a fit and proper certificate for new directors, as well as from compliance with New Zealand solvency standards and statutory funds.