Finance Act (No 2) 1981

Reprint
as at 5 December 2013

Coat of Arms of New Zealand

Finance Act (No 2) 1981

Public Act1981 No 110
Date of assent22 October 1981
Commencementsee section 1(2)

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

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 (No 2) 1981.

    (2) Subject to section 3(2), this Act shall come into force on the day on which it receives the Governor-General's assent.

Part 1
Substantive provisions

2 Christmas Island phosphates
  • (1) The Minister of Foreign Affairs may, on behalf of the Government of New Zealand, enter into agreements with the Government of Australia providing for or relating to all or any of the following matters:

    • (a) the winding-up of the Christmas Island Phosphate Commission, set up pursuant to an agreement made under section 2 of the Finance Act (No 2) 1948, the disposal of its assets, and the settlement of any or all of its outstanding liabilities:

    • (b) the disposal of any right to mine phosphate on Christmas Island vested in the Government of New Zealand, the Government of Australia, or both of them:

    • (c) the disposal of any property employed, directly or indirectly, in the mining of phosphate on Christmas Island or the storage or distribution of any phosphate mined there, and vested in the Government of New Zealand, the Government of Australia, or both of them:

    • (d) any rights to purchase supplies of phosphate mined on Christmas Island:

    • (e) the termination or modification of any existing agreement made under section 2 of the Finance Act (No 2) 1948.

    (2) The Minister of Finance may, on behalf of Her Majesty the Queen, from the Consolidated Account or the Loans Account, out of money appropriated by Parliament for the purpose, make any payments provided for or required by any agreement made under subsection (1).

    (3) The following enactments are hereby repealed:

    • (a), (b) Amendment(s) incorporated in the Act(s):

    • (c) the Finance Act 1966.

3 New Zealand Meat Producers Board to be exempt from land tax
  • [Repealed]

    Section 3: repealed, on 31 July 1989 (applying with respect to the land tax for the year of assessment commencing on 1 April 1990 and for every subsequent year), by section 10 of the Land Tax Amendment Act 1989 (1989 No 50).

4 Sections to be read with Trustee Savings Bank Act 1948
  • [Repealed]

    Section 4: repealed, on 1 April 1984, by section 53(1) of the Trustee Banks Act 1983 (1983 No 116).

5 Power to invest money
  • [Repealed]

    Section 5: repealed, on 1 April 1984, by section 53(1) of the Trustee Banks Act 1983 (1983 No 116).

6 Premiums on shares issued in respect of mergers
  • [Repealed]

    Section 6: repealed, on 5 December 2013, by section 14 of the Companies Amendment Act 2013 (2013 No 111).

7 Amendments to Income Tax Act 1976 consequential on section 6
  • [Repealed]

    Section 7: repealed, on 16 December 1988 (applying with respect to the tax on income derived in the income year commencing on 1 April 1988 and in every subsequent year), by section 31(3)(d) of the Income Tax Amendment Act (No 5) 1988 (1988 No 225).

8 Authorising Government Life Insurance Office to purchase stamp collection
  • [Repealed]

    Section 8: repealed on 1 October 1983, by section 33(1) of the Government Life Insurance Corporation Act 1983 (1983 No 15).

Part 2
Validation, repeals, and savings

[Repealed]

  • Part 2: repealed, on 4 December 1982, by section 3(1) of the Finance Act 1982 (1982 No 122).

9 New Zealand Apple and Pear Marketing Board: validating excessive distribution of profit
  • [Repealed]

    Section 9: repealed, on 4 December 1982, by section 3(1) of the Finance Act 1982 (1982 No 122).

10 Repeals and savings
  • [Repealed]

    Section 10: repealed, on 4 December 1982, by section 3(1) of the Finance Act 1982 (1982 No 122).


Schedule
Enactments repealed

s 10(1)

[Repealed]

  • Schedule: repealed, on 4 December 1982, by section 3(1) of the Finance Act 1982 (1982 No 122).


Reprints notes
1 General
  • This is a reprint of the Finance Act (No 2) 1981 that incorporates all the amendments to that Act as at the date of the last amendment to it.

2 Legal status
  • Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, will have the status of an official version once issued by the Chief Parliamentary Counsel under section 17(1) of that Act.

3 Editorial and format changes
4 Amendments incorporated in this reprint
  • Companies Amendment Act 2013 (2013 No 111): section 14

    Land Tax Amendment Act 1989 (1989 No 50): section 10

    Income Tax Amendment Act (No 5) 1988 (1988 No 225): section 31(3)(d)

    Trustee Banks Act 1983 (1983 No 116): section 53(1)

    Government Life Insurance Corporation Act 1983 (1983 No 15): section 33(1)

    Finance Act 1982 (1982 No 122): section 3(1)