New Zealand Legislation: Supplementary Order Papers
Supplementary Order Papers (SOPs) are proposed amendments to Bills
Supplementary Order Papers (SOPs) are proposed amendments to Bills
Add to web feed Clause 28: new section 30E
Heading to new section 30E: to insert after “overseas”
(line 16 on page 44) “or cancellation”
.
Subsection (1): to omit this subsection (lines 17 to 20 on page 44) and substitute the following subsection:
“(1) An account holder may apply to the Registrar to convert a New Zealand unit by that person into a designated assigned amount unit held for the purposes of transferring that assigned amount unit to—
“(a) an account in an overseas registry; or
“(b) the general cancellation account.
Subsection (2): to omit “the purpose”
(line 22 on page 44) and substitute “either purpose”
.
Subsection (2)(b): to omit this paragraph (lines 27 to 31 on page 44) and substitute the following paragraph:
“(b) submit an application under section 18C for the transfer of an equivalent number of designated assigned amount units (into which the account holder is converting the New Zealand units) to—
“(i) an account in an overseas registry; or
“(ii) the general cancellation account; and
Subsection (3)(c): to omit this paragraph (lines 4 and 5 on page 45) and substitute the following paragraph:
“(c) subject to section 21(3), register the transaction applied for under subsection (2)(b).
Subsection (4): to omit “To avoid doubt, if”
(line 6 on page 45) and substitute “If”
.
Subsection (5)(b): to omit “holding account other than a cancellation, retirement, or surrender account”
(lines 19 and 20 on page 41) and substitute “Crown holding account”
.
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