In this Part, unless the context otherwise requires,—
Canterbury earthquake means the earthquake that occurred on 4 September 2010 in Canterbury, and includes all of its aftershocks
Government offer means an offer by or on behalf of the Government of New Zealand in respect of any residential premises in the red zone either—
(a) to purchase the whole of the premises and to subrogate the owner’s claims for damage to the premises from the earthquake to the Earthquake Commission continued by section 4 of the Earthquake Commission Act 1993 and the owner’s insurance company; or
(b) to purchase the land only of the premises, without subrogation of the owner’s claim for damage to the premises from the earthquake to the owner’s insurance company
red zone or red zone land means the area designated in the Prime Minister’s public announcement of 23 June 2011 as the red zone, and any other area included in that zone or designated as red zone land by any subsequent announcement of the New Zealand Government
related interest on a payment to which regulation 5(1), (3), or (5) applies means any interest that is—
(a) interest derived from that payment; or
(b) interest derived from related interest.
Compare: SR 2011/15 r 3