New Zealand Legislation: Regulations

6 Specified item declared not to be cash assets

• (1) The item of cash assets specified in subclause (2) is not a person's cash assets for the purpose of paragraph (b) of the definition of cash asset in section 61E of the Act.

  (2) The item of cash assets is any payment made to the person by the Trust other than a payment of the kind referred to in any of paragraphs (a) to (d) of clause 14.2 of the trust deed.

  (3) The exemption in subclause (1) applies only in respect of the first 12 months after the payment is made.