Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
EK 14: Application for transfer
or “How to request a transfer from your environmental restoration account”
You could also call this:

“How to transfer money from your environmental restoration account to someone else”

When you apply to transfer money from your environmental restoration account to someone else, the Commissioner can make this transfer happen. This is possible if you’ve given that person the responsibilities related to the money, and if certain other rules don’t apply.

The Commissioner will move the money to the other person’s environmental restoration account. This transfer is treated as if the other person paid into their own account, but only if they can prove two things to the Commissioner. First, they need to show that they’ve taken on the responsibilities linked to the money. Second, they need to show that if the transfer hadn’t happened, they would have been allowed to put that amount of money into their own account anyway.

If the person you’ve chosen can’t prove these things, the Commissioner will move the money back to your account. It’ll be like the transfer to the other person never happened.

You can find more information about making an application for transfer in section EK 14. There are also other rules that might affect transfers in sections EK 9, EK 12, EK 16, and EK 19.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

Next up: EK 16: Transfer on death, bankruptcy, or liquidation

or “What happens to your environmental restoration account when you die, go bankrupt, or your company is liquidated”
Next

Part E Timing and quantifying rules
Environmental restoration accounts

EK 15Transfer on application

  1. This section applies when—

  2. a person applies under section EK 14 for a transfer of some or all of the amount in their environmental restoration account to a person who is nominated in the application; and
    1. the person has transferred to the nominated person the obligations to which the amount relates; and
      1. none of sections EK 9, EK 12, EK 16, and EK 19 applies.

        1. The Commissioner must make a transfer under this section to an environmental restoration account of the person nominated in the application.

        2. A transfer under subsection (2) is treated as being a payment by the nominated person to the nominated person’s environmental restoration account if the nominated person satisfies the Commissioner that—

        3. the obligations to which the transferred amount relates have been transferred to the nominated person; and
          1. in the absence of the transfer, the nominated person would be entitled to make a payment, of the amount of the transfer, to the nominated person’s environmental restoration account.

            1. If the nominated person does not meet the requirements of subsection (3) in relation to an amount, the Commissioner must transfer the amount to the environmental restoration account of the person who made the application under subsection (1)(a).

            2. The transfer under subsection (4) is treated as taking place at the time of the original transfer under subsection (2).

            Compare
            Notes
            • Section EK 15 heading: amended, on , by section 33(1) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).
            • Section EK 15(2) heading: amended, on , by section 33(2) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).
            • Section EK 15 list of defined terms apply: inserted, on , by section 33(3) of the Taxation (Transformation: First Phase Simplification and Other Measures) Act 2016 (2016 No 27).