Student Loan Scheme Amendment Act 2003

  • repealed
  • Student Loan Scheme Amendment Act 2003: repealed, on 1 April 2012, pursuant to section 225 of the Student Loan Scheme Act 2011 (2011 No 62).

Reprint
as at 1 April 2012

Student Loan Scheme Amendment Act 2003

Public Act2003 No 7
Date of assent26 March 2003
  • Student Loan Scheme Amendment Act 2003: repealed, on 1 April 2012, pursuant to section 225 of the Student Loan Scheme Act 2011 (2011 No 62).


Note

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

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

This Act is administered by the Inland Revenue Department.


The Parliament of New Zealand enacts as follows:

1 Title
  • This Act is the Student Loan Scheme Amendment Act 2003.

2 Commencement
  • This Act comes into force on the day on which it receives the Royal assent.

3 Student Loan Scheme Act 1992
4 Interpretation
  • (1) Section 2 of the principal Act is amended by inserting, after the definition of non-resident repayment obligation, the following definition:

    PAYE intermediary means a PAYE intermediary as defined in section OB 1 of the Income Tax Act 1994.

    (2) Subsection (1) applies to obligations under the principal Act that arise on and after 1 April 2004.

5 Employer to make repayment deductions
  • (1) The heading to section 19 of the principal Act is amended by inserting, after the word Employer, the words or PAYE intermediary.

    (2) Section 19 of the principal Act is amended by repealing subsection (1), and substituting the following subsection:

    • (1) If a borrower has given a notice under section 18 to an employer, each time the employer, or a person acting as a PAYE intermediary for the employer, pays an amount to the borrower by way of salary or wages for an income year, the employer or the person must make a deduction from that amount.

    (3) Subsections (1) and (2) apply to obligations under the principal Act that arise on and after 1 April 2004.

6 Information to show repayment deductions made
  • (1) Section 24(1) of the principal Act is amended by inserting, after the words Every employer, the words or PAYE intermediary.

    (2) Subsection (1) applies to obligations under the principal Act that arise on and after 1 April 2004.

7 PAYE rules of Income Tax Act 1994 to apply to repayment deductions
  • (1) Section 25(1) of the principal Act is amended by inserting, after the words every employer, the words , PAYE intermediary,.

    (2) Section 25(2) of the principal Act is amended by omitting the expression NC 17,.

    (3) Subsection (1) applies to obligations under the principal Act that arise on and after 1 April 2004.

    (4) Subsection (2) applies for the 2002-03 and subsequent income years.

8 Payment of terminal repayment obligation
  • (1) Section 30 of the principal Act is amended by repealing subsection (1), and substituting the following subsection:

    • (1) A terminal repayment obligation for an income year that is not previously due and payable is due and payable on the borrower's terminal tax date, as defined in section OB 1 of the Income Tax Act 1994, for the income year.

    (2) Subsection (1) applies for the 2002-03 and subsequent income years.

9 Power of Commissioner in respect of small amounts
  • (1) Section 51 of the principal Act is amended by inserting, after the words an employer in both cases where those words occur, the words or a PAYE intermediary.

    (2) Subsection (1) applies to obligations under the principal Act that arise on and after 1 April 2004.

10 Challenge to assessment of repayment deduction
  • (1) Section 67 of the principal Act is amended by inserting, after the words Any employer, the words or PAYE intermediary.

    (2) Subsection (1) applies to obligations under the principal Act that arise on and after 1 April 2004.

11 Offences in respect of repayment deductions
  • (1) Section 77(1)(d) and (e) of the principal Act is amended by inserting, after the words an employer in the second place they appear, the words or a PAYE intermediary.

    (2) Subsection (1) applies to obligations under the principal Act that arise on and after 1 April 2004.


Contents

  • 1General

  • 2About this eprint

  • 3List of amendments incorporated in this eprint (most recent first)


Notes
1 General
  • This is an eprint of the Student Loan Scheme Amendment Act 2003. The eprint incorporates all the amendments to the Act as at 1 April 2012. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007.

    Relevant provisions of any amending enactments that contain transitional, savings, or application provisions that cannot be compiled in the eprint are also included, after the principal enactment, in chronological order.

2 About this eprint
3 List of amendments incorporated in this eprint (most recent first)
  • Student Loan Scheme Act 2011 (2011 No 62): section 225