Reprint
as at 25 January 2005

Coat of Arms of New Zealand

Finance Act 1971

Public Act1971 No 55
Date of assent19 November 1971
Commencement19 November 1971

Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.

A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.

This Act is administered by the Treasury.


An Act to make provisions with respect to public finance and other matters

1 Short Title
  • This Act may be cited as the Finance Act 1971.

2 Railway deviation authorised
  • [Repealed]

    Section 2: repealed, on 1 February 1982, by section 248(1) of the Public Works Act 1981 (1981 No 35).

3 Contributions towards Xth British Commonwealth Games
  • (1) It shall be lawful and be deemed to have been lawful for any local authority or public body to make contributions from its general fund or account to Xth British Commonwealth Games Limited, a company incorporated under the Companies Act 1955, and having for its principal object the organisation, management, and financial control of the British Commonwealth Games to be held in Christchurch in 1974.

    (2) No gift duty shall be payable on any contribution made pursuant to subsection (1).

4 Guarantees of Western Samoan Government loans
  • (1) The Minister of Finance may from time to time, pursuant to the Public Finance Act 1989 and on behalf of Her Majesty the Queen, give in respect of any money borrowed in New Zealand by the Government of Western Samoa by the issue of stock registered in New Zealand by the Reserve Bank of New Zealand on behalf of that Government, and in respect of any interest thereon, any guarantee, indemnity, or security on or subject to such terms and conditions as the Minister thinks fit.

    (2) [Repealed]

    (3) It shall be lawful for a trustee, unless expressly forbidden by the instrument (if any) creating the trust, to invest any trust funds in his hands in any stock in respect of which the Minister of Finance has given a guarantee or indemnity or security under this section.

    Section 4(1): amended, on 1 July 1989, by section 86(1) of the Public Finance Act 1989 (1989 No 44).

    Section 4(1): amended, on 1 April 1978, by section 160(1) of the Public Finance Act 1977 (1977 No 65).

    Section 4(2): repealed, on 1 April 1978, by section 160(1) of the Public Finance Act 1977 (1977 No 65).

5 Application of surplus of separate or special rate
  • Amendment(s) incorporated in the Act(s).

6 Timber Workers' Housing Pool Account
  • (1) There may, without further appropriation than this section, be paid out of the Timber Workers' Housing Pool Account established under section 24 of the Finance Act (No 2) 1946 into a Crown Bank Account to the credit of such account as the Minister of Finance may direct such amounts as the Minister of Finance may approve to be spent in such ways as the Minister of Forests, with the concurrence of the Minister of Finance, determines will be for the benefit of the sawmilling and timber industry; and all or any of the money to be so spent may be spent for the purposes of the Timber Industry Training Centre, Rotorua.

    (2) Amendment(s) incorporated in the Act(s).

    Section 6(1): amended, on 25 January 2005, pursuant to section 83(7) of the Public Finance Act 1989 (1989 No 44).


Schedule
Railway authorised

s 2

[Repealed]

  • Schedule: repealed, on 1 February 1982, by section 248(1) of the Public Works Act 1981 (1981 No 35).


Contents

  • 1General

  • 2Status of reprints

  • 3How reprints are prepared

  • 4Changes made under section 17C of the Acts and Regulations Publication Act 1989

  • 5List of amendments incorporated in this reprint (most recent first)


Notes
1 General
  • This is a reprint of the Finance Act 1971. The reprint incorporates all the amendments to the Act as at 25 January 2005, as specified in the list of amendments at the end of these notes.

    Relevant provisions of any amending enactments that contain transitional, savings, or application provisions that cannot be compiled in the reprint are also included, after the principal enactment, in chronological order. For more information, see http://www.pco.parliament.govt.nz/reprints/ .

2 Status of reprints
  • Under section 16D of the Acts and Regulations Publication Act 1989, reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by the amendments to that enactment. This presumption applies even though editorial changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in the reprint.

    This presumption may be rebutted by producing the official volumes of statutes or statutory regulations in which the principal enactment and its amendments are contained.

3 How reprints are prepared
  • A number of editorial conventions are followed in the preparation of reprints. For example, the enacting words are not included in Acts, and provisions that are repealed or revoked are omitted. For a detailed list of the editorial conventions, see http://www.pco.parliament.govt.nz/editorial-conventions/ or Part 8 of the Tables of New Zealand Acts and Ordinances and Statutory Regulations and Deemed Regulations in Force.

4 Changes made under section 17C of the Acts and Regulations Publication Act 1989
  • Section 17C of the Acts and Regulations Publication Act 1989 authorises the making of editorial changes in a reprint as set out in sections 17D and 17E of that Act so that, to the extent permitted, the format and style of the reprinted enactment is consistent with current legislative drafting practice. Changes that would alter the effect of the legislation are not permitted.

    A new format of legislation was introduced on 1 January 2000. Changes to legislative drafting style have also been made since 1997, and are ongoing. To the extent permitted by section 17C of the Acts and Regulations Publication Act 1989, all legislation reprinted after 1 January 2000 is in the new format for legislation and reflects current drafting practice at the time of the reprint.

    In outline, the editorial changes made in reprints under the authority of section 17C of the Acts and Regulations Publication Act 1989 are set out below, and they have been applied, where relevant, in the preparation of this reprint:

    • omission of unnecessary referential words (such as of this section and of this Act)

    • typeface and type size (Times Roman, generally in 11.5 point)

    • layout of provisions, including:

      • indentation

      • position of section headings (eg, the number and heading now appear above the section)

    • format of definitions (eg, the defined term now appears in bold type, without quotation marks)

    • format of dates (eg, a date formerly expressed as the 1st day of January 1999 is now expressed as 1 January 1999)

    • position of the date of assent (it now appears on the front page of each Act)

    • punctuation (eg, colons are not used after definitions)

    • Parts numbered with roman numerals are replaced with arabic numerals, and all cross-references are changed accordingly

    • case and appearance of letters and words, including:

      • format of headings (eg, headings where each word formerly appeared with an initial capital letter followed by small capital letters are amended so that the heading appears in bold, with only the first word (and any proper nouns) appearing with an initial capital letter)

      • small capital letters in section and subsection references are now capital letters

    • schedules are renumbered (eg, Schedule 1 replaces First Schedule), and all cross-references are changed accordingly

    • running heads (the information that appears at the top of each page)

    • format of two-column schedules of consequential amendments, and schedules of repeals (eg, they are rearranged into alphabetical order, rather than chronological).

5 List of amendments incorporated in this reprint (most recent first)