(1) Subject to this section, where the chief executive is satisfied that goods have been temporarily imported, a sum equal to the amount of the duty payable on the goods may be secured, pursuant to section 156, in such cases as may be approved by the chief executive, and on receipt of such security the chief executive may release the goods from the control of the Customs without payment of duty.
(2) Subject to such conditions (if any) as may be prescribed, the person giving the security must be released from the conditions of the security or, as the case may be, subject to subsection (4), a deposit of money made must be returned to the person by whom it was made if, within 12 months from the date of their importation or within such longer period as the chief executive may determine in any particular case, the chief executive is satisfied that the goods have been—
(3) Where in any case goods temporarily imported are used for industrial or commercial purposes or such other purposes as the chief executive may consider applicable, duty shall be payable in respect of the goods on the amount by which their value for duty, as determined by the chief executive at the time that he or she is satisfied pursuant to subsection (2) that the goods have been dealt with under any of paragraphs (a) to (e) of that subsection, is less than their value for duty, as ascertained in accordance with this Act, at the time of their importation.
(3A) For the purposes of subsection (3), the chief executive must determine the value for duty of goods that have been dealt with under any of subsection (2)(a) to (e) by using—
(4) Where an amount of duty is payable in accordance with subsection (3), that duty may be deducted from any deposit of money given as security under subsection (1).
(5) Notwithstanding subsection (3), but subject to such conditions as the chief executive may impose, duty is not payable on goods temporarily imported in accordance with any treaty, agreement, or arrangement concluded by the Government of New Zealand.
(6) If, at the expiry of the period prescribed by subsection (2), the goods have not been dealt with in accordance with that subsection,—
(8) This section does not apply to any goods that are, by regulations made under the Tariff Act 1988, declared to be goods to which this section does not apply.
Compare: 1966 No 19 s 181; 1980 No 33 s 8
Section 116(3A): inserted, on 6 April 2012, by section 13 of the Customs and Excise Amendment Act 2012 (2012 No 25).
Section 116(7): amended, on 7 September 2000, by section 8(1) of the Ministry of Economic Development Act 2000 (2000 No 28).