New Zealand Legislation: Acts

32 Application of provisions relating to financial year

• (1) Despite the enactment of this Act, any existing provisions of the principal Act that relate to a financial year continue to apply only in respect of—

  • (a) either of the following:

    • (i) the financial year ending on 30 June 2005; or

    • (ii) a later financial year specified by the Governor-General by Order in Council made on the recommendation of the Minister of Finance; and

  • (b) each previous financial year.

  (2) Any provisions of the principal Act (as amended by this Act) that relate to a financial year must be read as if those provisions apply only in respect of—

  • (a) either of the following:

    • (i) the financial year commencing on 1 July 2005; or

    • (ii) if a later financial year is specified by the Governor-General by Order in Council made under subsection (1)(a)(ii), the next financial year; and

  • (b) each subsequent financial year.

  (3) The Minister of Finance may make a recommendation under subsection (1)(a)(ii) only if he or she is satisfied that doing so is reasonably necessary to maintain the integrity of the preparation of the Budget.

  (4) In this section, existing provisions of the principal Act means the provisions of the principal Act that were in force immediately before the commencement of this Act.