Tax Administration Act 1994

21C Preparing financial statements: Orders in Council

(1)

The Governor-General may from time to time, by Order in Council made on the recommendation of the Minister of Revenue, prescribe, for the purposes of section 21B,—

(a)

minimum requirements for preparing financial statements:

(b)

classes of taxpayers to whom the minimum requirements apply:

(c)

classes of companies that are exempt from the minimum requirements:

(d)

the period for which financial statements must be prepared.

(2)

Before recommending the making or amending of an Order in Council under this section, the Minister of Revenue must, whether before or after the date on which the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 receives the Royal assent, consult with professional accounting bodies that the Minister decides it is reasonable to consult for the purposes of this section.

Section 21C: inserted, on 27 February 2014, by section 134(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).