New Zealand Legislation: Acts

132AA Regulations exempting items from treatment as income or cash assets may have retrospective effect

• (1) This section applies to regulations made under section 132 that—

  • (a) declare items or amounts of income or income from a specified source not to be income; or

  • (b) declare items of cash assets or cash assets of a specified kind not to be cash assets.

  (2) Any regulations to which this section applies have effect in respect of any income or cash assets specified in the regulations on and after any date specified in the regulations (which may be a date before, on, or after the date on which the regulations are made).

  Section 132AA: inserted, on 26 September 2002, by section 28 of the Social Security (Personal Development And Employment) Amendment Act 2002 (2002 No 28).