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Income Tax Act 2007

Taxation of certain entities - Portfolio investment entities - Entry rules

HM 7: Requirements

You could also call this:

"Rules to follow if you want to be a PIE"

To be a PIE, you must meet some rules. You have to follow the entry rules in sections HM 8 to HM 10B, HM 17, HM 18, and HM 20 as they apply to you. You also have to be one of the types of entity mentioned in section HM 2(2).

You must choose to become a PIE under section HM 71 or HM 71B. You have to keep meeting the rules in sections HM 8 to HM 20 as they apply to you. You cannot lose your PIE status under the exit rules in sections HM 24 to HM 30.

You have to keep following these rules to stay a PIE. The rules are important to understand if you want to be a PIE. You can find more information about the rules in the related sections.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM2888718.

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Part HTaxation of certain entities
Portfolio investment entities: Entry rules

HM 7Requirements

  1. For an entity to be a PIE, it must—

  2. meet the requirements of the entry rules in sections HM 8 to HM 10B, HM 17, HM 18, and HM 20, as applicable; and
    1. be 1 of the types of entity referred to in section HM 2(2); and
      1. choose under section HM 71 or HM 71B to become a PIE; and
        1. maintain the requirements of the rules in sections HM 8 to HM 20, as applicable; and
          1. not lose PIE status under the exit rules in sections HM 24 to HM 30.

            Compare
            • ss HL 2(2), HL 15(1), (2)
            Notes
            • Section HM 7: inserted, on (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).
            • Section HM 7(a): amended, on , by section 85 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).
            • Section HM 7(c): amended, on , by section 56 of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).