Reprint
as at 25 January 2005

Coat of Arms of New Zealand

Finance Act 1980

Public Act1980 No 47
Date of assent28 November 1980
Commencementsee section 1(2)

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 provision with respect to public finances and other matters

1 Short Title and commencement
  • (1) This Act may be cited as the Finance Act 1980.

    (2) Subject to section 4(4), this Act shall come into force on the day on which it receives the Governor-General's assent.

Part 1
Substantive provisions

2 Payments related to South Island Local Bodies Association
  • (1) It shall be lawful for any local authority that is a member of the South Island Local Bodies Association (Incorporated) to pay from its general revenues—

    • (a) any subscription payable by it under the rules of that association:

    • (b) the reasonable travelling expenses of its representatives incurred in attending meetings of that association or of the executive committee of that association.

    (2) The actions of any such local authority in paying to the said association before the commencement of this Act any annual subscription that was unlawful by virtue of the fact that it exceeded the appropriate amount prescribed by section 35(4) of the Finance Act 1950 are hereby validated and deemed to have been lawful.

    (3) The following enactments are hereby consequentially repealed:

    • (a) section 35 of the Finance Act 1950:

    • (b) section 4 of the Finance Act 1976.

3 Air New Zealand Limited
  • (1) In this section, the company means Air New Zealand Limited, the duly incorporated company of that name having its registered office in Auckland.

    (2) The Minister of Finance may from time to time,—

    • (a) on behalf of Her Majesty the Queen, subscribe for or otherwise acquire shares in the company:

    • (b) from a Crown Bank account, out of money appropriated by Parliament for the purpose, pay for any such shares so acquired:

    • (c) on behalf of Her Majesty the Queen, exercise all or any of Her Majesty's rights and powers as the holder of any shares in the company.

    (3) The actions of the Minister of Finance on 22 July 1980, on behalf of Her Majesty the Queen, in—

    • (a) subscribing for 8 000 000 $2 shares in the company; and

    • (b) paying $16,000,000 to the company for those shares—

    are hereby validated and deemed to have been lawful.

    Section 3(2)(b): amended, on 25 January 2005, pursuant to section 83(7) of the Public Finance Act 1989 (1989 No 44).

4 Alliance Textiles Limited
  • (1) In this section, the company means Alliance Textiles Limited, the duly incorporated company of that name having its registered office in Dunedin.

    (2) Subject to subsection (3), the Minister of Finance may from time to time,—

    • (a) on behalf of Her Majesty the Queen, subscribe for or otherwise acquire shares in the company:

    • (b) advance money to the company by way of a debenture that is partly convertible into shares in the company:

    • (c) from a Crown Bank account, out of money appropriated by Parliament for the purpose, pay for any such shares so acquired, and so advance any money:

    • (d) on behalf of Her Majesty the Queen, exercise all or any of Her Majesty's rights and powers under any such debenture or as the holder of any shares in the company.

    (3) The total of all amounts paid, payable, or advanced under subsection (2) shall not exceed $1,000,000.

    (4) This section shall be deemed to have come into force on 28 August 1980.

    Section 4(2)(c): amended, on 25 January 2005, pursuant to section 83(7) of the Public Finance Act 1989 (1989 No 44).

Part 2
Validations and repeals

  • Part 2: repealed, on 22 October 1981, by section 10(1) of the Finance Act (No 2) 1981 (1981 No 110).

5 Repeal of Services Export Development Grants Act 1973
  • [Repealed]

    Section 5: repealed, on 22 October 1981, by section 10(1) of the Finance Act (No 2) 1981 (1981 No 110).

6 Validating unlawful charges for and issue of fishing licences
  • [Repealed]

    Section 6: repealed, on 22 October 1981, by section 10(1) of the Finance Act (No 2) 1981 (1981 No 110).

7 Music Teachers Registration Board: validating unlawful collection of fees
  • [Repealed]

    Section 7: repealed, on 22 October 1981, by section 10(1) of the Finance Act (No 2) 1981 (1981 No 110).

8 Repeal of spent Appropriation and Imprest Supply Acts
  • [Repealed]

    Section 8: repealed, on 22 October 1981, by section 10(1) of the Finance Act (No 2) 1981 (1981 No 110).

9 Repeals and savings
  • [Repealed]

    Section 9: repealed, on 22 October 1981, by section 10(1) of the Finance Act (No 2) 1981 (1981 No 110).


Schedule 1
Appropriation Acts and Imprest Supply Acts repealed

s 8

[Repealed]

  • Schedule 1: repealed, on 22 October 1981, by section 10(1) of the Finance Act (No 2) 1981 (1981 No 110).


Schedule 2
Enactments repealed

s 9

[Repealed]

  • Schedule 2: repealed, on 22 October 1981, by section 10(1) of the Finance Act (No 2) 1981 (1981 No 110).


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 1980. 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)