Financial Reporting (Levies) Regulations 2012

  • revoked
  • Financial Reporting (Levies) Regulations 2012: revoked, on 1 April 2014, by regulation 6 of the Financial Reporting (Levies) Regulations 2014 (LI 2014/53).

Reprint
as at 1 April 2014

Coat of Arms of New Zealand

Financial Reporting (Levies) Regulations 2012

(SR 2012/122)

Rt Hon Dame Sian Elias, Administrator of the Government

Order in Council

At Wellington this 5th day of June 2012 

Present:
Her Excellency the Administrator of the Government in Council

  • Financial Reporting (Levies) Regulations 2012: revoked, on 1 April 2014, by regulation 6 of the Financial Reporting (Levies) Regulations 2014 (LI 2014/53).


Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

These regulations are administered by the Ministry of Business, Innovation and Employment.


Pursuant to section 42C of the Financial Reporting Act 1993, Her Excellency the Administrator of the Government, acting on the recommendation of the Minister of Commerce and on the advice and with the consent of the Executive Council, makes the following regulations.

Regulations

1 Title
  • These regulations are the Financial Reporting (Levies) Regulations 2012.

2 Commencement
  • These regulations come into force on 1 August 2012.

3 Interpretation
  • In these regulations, unless the context otherwise requires,—

    class means a class of specified persons described in column 2, and identified by a number given in column 1, of the levies table

    leviable event, in respect of a person included in a class, means the event specified for the class in column 3 of the levies table

    levies table means the table in the Schedule.

4 Persons included in prescribed classes of specified persons must pay levy
  • (1) Every person who is included in a class at the time of the leviable event for the class must pay the levy specified for the class in column 5 of the levies table.

    (2) The levy must be paid—

    • (a) at the time of the leviable event; and

    • (b) to the collector specified for the class in column 4 of the levies table.


Schedule
Levies

r 4

Column 1 Column 2 Column 3 Column 4 Column 5
Class Description Leviable event Collector Amount of levy
1 

Persons that make an application for registration or incorporation under—

 Making the application The person to whom the application is made $10
2 

Persons that are registered or incorporated, and required to make an annual return, under—

 Making the annual return The person to whom the annual return is made $10

Rebecca Kitteridge, 
 Clerk of the Executive Council.


Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 1 August 2012,—

  • prescribe the classes of specified persons that are required to pay a levy under section 42C of the Financial Reporting Act 1993; and

  • provide for different levies for different classes of specified persons; and

  • provide for the payment and collection of the levies.

The regulations prescribe 2 classes of specified persons—those who apply for registration or incorporation (class 1), and those who are registered or incorporated (class 2), under the Building Societies Act 1965, the Companies Act 1993, the Friendly Societies and Credit Unions Act 1982, or the Limited Partnerships Act 2008. Persons in class 1 pay a $10 levy with the application for registration or incorporation and persons in class 2 pay a $10 levy with each annual return.

The purpose of the levy is to fund—

  • a portion of the costs of the External Reporting Board performing its functions and duties and exercising its powers under the Financial Reporting Act 1993; and

  • the costs of collecting the levy money.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 7 June 2012.


Reprints notes
1 General
  • This is a reprint of the Financial Reporting (Levies) Regulations 2012 that incorporates all the amendments to those regulations as at the date of the last amendment to them.

2 Legal status
  • Reprints are presumed to correctly state, as at the date of the reprint, the law enacted by the principal enactment and by any amendments to that enactment. Section 18 of the Legislation Act 2012 provides that this reprint, published in electronic form, has the status of an official version under section 17 of that Act. A printed version of the reprint produced directly from this official electronic version also has official status.

3 Editorial and format changes
4 Amendments incorporated in this reprint
  • Financial Reporting (Levies) Regulations 2014 (LI 2014/53): regulation 6