Proposed amendment to SOP No. 34

New section HR 10(4)(a): to omit “back” (page 27) and substitute “backed”.

Proposed amendments to Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill

Subclause (21): to omit “72(1) to (4)” (line 4 on page 44) and substitute “72(1), (3), and (4)”.

Subclause (21): to omit “207B” (line 20 on page 44) and substitute “207(3B), 207B”.

Subclause (21): to omit “394” (line 2 on page 45) and substitute “394, 395B, 395C, 395D, 395E”.

Subclause (21): to omit “559” (line 23 on page 45) and substitute “558, 559”.

Subclause (26): to omit “287(3) and (7),” (line 1 on page 46).

Subclause (26): to omit “395B, 395C, 395D, 395E,” (line 3 on page 46).

Subclause (27): to omit “117” (line 9 on page 46) and substitute “117, 118”.

Subclause (27): to omit “273(3), (4), and (8), 277, 286(3) and (7)” (line 17 on page 46) and substitute “277, 284C, 286(3) and (7), 287(3) and (7)”.

Subclause (27): to omit “442(2)” (line 30 on page 46) and substitute “442(2) and (4)”.

Subclause (28): to omit “(75), and (82B)” (line 36 on page 46) and substitute “and (75)”.

Subclause (29): to omit “15(4)” (line 38 on page 46) and substitute “13(3B), 15(4)”.

Subclause (29): to omit “72(5) and (6)” (line 2 on page 47) and substitute “72(2), (5), and (6)”.

Subclause (29): to omit “116(2) and (3),” (line 4 on page 47).

Subclause (29): to omit “289,” (line 10 on page 47).

Subclause (29): to omit “344(2) and (4), 378, 393(3), (6),” (line 11 on page 47) and substitute “378, 393(3)”.

Subclause (29): to omit “477” (line 18 on page 47) and substitute “477, 483(4) and (6)”.

Subclause (31): to omit “297” (line 26 on page 47) and substitute “289, 297”.

Subclause (31): to omit “351” (line 28 on page 47) and substitute “344(2) and (4), 351”.

Subclause (31): to omit “(83B)” (line 31 on page 47) and substitute “(82B), (83B)”.

Subclause (1): section CR 4(1)(a)(ii): to omit “:” (line 16 on page 69) and substitute “; and”.

Section CZ 9B(4)(c): to omit “a child or” (line 10 on page 98) and substitute “a child of”.

Section CZ 9B(4)(d): to omit “or a child” (line 13 on page 98) and substitute “or of a child”.

Subclause (1): section DR 1(1): to omit “shareholder” (lines 10 and 11 on page 112) and substitute “policyholder”.

Subclause (1): heading to section DR 2: to omit “income” (line 27 on page 112) and substitute “allowable deduction”.

Subclause (1): section DR 4(2): to omit “to an insured” (line 27 on page 113).

Subclause (1): section DW 4(1)(a)(ii): to omit “:” (line 23 on page 127) and substitute “; and”.

Subclause (1): to omit “adjustments” (line 3 on page 151) and substitute “when the fair value method is used, adjustments”.

Subclause (1): heading after section EX 21E(6): to omit the first instance of “Reported passive” (line 4 on page 217).

Subclause (1): section EY 2, list of defined terms: to omit “amount” (line 25 on page 247) and substitute “amount, assessable income”.

Subclause (1): section EY 3(1)(c): to omit “EY 30” (line 1 on page 248) and substitute “EY 31”.

Subclause (1): section EY 3, list of defined terms: to omit “assessable income, deduction, life insurance” (line 20 on page 248) and substitute “deduction, life insurance, life insurance policy”.

Subclause (1): section EY 4, list of defined terms: to omit “actuarially determined” (line 9 on page 249) and substitute “actuarially determined, amount”.

Subclause (1): section EY 5, list of defined terms: to omit “life reinsurance” (line 5 on page 251) and substitute “life reinsurance, outstanding claims reserve”.

Subclause (1): section EY 15(1)(b)(iii): to omit “products” (line 18 on page 274) and substitute “product policies”.

Subclause (1): section EY 16(2): to omit “income” (line 3 on page 276) and substitute “allowable deduction”.

Subclause (1): section EY 30(4), words before the paragraphs: to omit “employer sponsored group policies” (line 4 on page 297) and substitute “to an employer sponsored group policy”.

Subclause (1): section EY 30(4)(a): to omit “deduction” (line 9 on page 297) and substitute “deduction for the policy”.

“Subclause (3): section FE 13(3)(a)(i)”: to omit “New Zealand source” (lines 36 and 37 on page 329) and substitute “source in New Zealand”.

“Subclause (3): section FE 13(3)(a)(ii)”: to omit “New Zealand source” (lines 1 and 2 on page 330) and substitute “source in New Zealand”.

“Subclause (1): section FE 16(1B)(a)(ii)”: to omit “New Zealand source” (lines 26 and 27 on page 333) and substitute “source in New Zealand”.

Subclause (3): to omit “2009–10” (line 36 on page 451) and substitute “2010–11”.

Section LD 8(1): to omit “pay period” (line 33 on page 463) and substitute “pay period and employer who agrees to offer payroll giving to their employees”.

Subclause (6): to omit subclause (6) (lines 8 and 9 on page 581).

to omit clause 397 (line 10 on page 586).

Subclause (156): to omit “(83B)” (line 16 on page 637) and substitute “(82B), (83B)”.

Section 24Q(1): to omit “pay period” (line 16 on page 694) and substitute “pay period and employer who agrees to offer payroll giving to their employees,”.

Subclause (1): section 41A(1): to omit “LC 7” (line 18 on page 701) and substitute “LC 6”.

Subclause (2): section 41A(3): to omit “LC 7” (line 22 on page 701) and substitute “LC 6”.

Subclause (4): section 41A(10): to omit “LC 7” (line 33 on page 701) and substitute “LC 6”.

Subclause (2): section 140CA(1C)(a): to omit “2008” (line 2 on page 731) and substitute “2007”.

Subclause (1): section CR 3(1)(a): to omit “:” (line 26 on page 753) and substitute “; and”.

Subclause (1): section DW 3(1)(a): to omit “:” (line 17 on page 767) and substitute “; and”.

Subclause (1): section EW 15C(3)(a): to omit “adjustments” (line 18 on page 779) and substitute “when the fair value method is used, adjustments”.

Subclause (15): to omit the first instance of subclause (15) (lines 30 to 33 on page 806).