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Income Tax Act 2007

Taxation of certain entities - Terminating provisions

HZ 11: Protection from non-compliance: Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020

You could also call this:

“Protection from penalties for certain securities rule breaches due to tax law changes”

If you break certain rules about securities because of some new laws, you won’t get in trouble. This applies if:

The rule-breaking happened because of some specific parts of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020.

The rules you broke were about a product disclosure statement or information on the disclosure register under the Financial Markets Conduct Act 2013.

The rules were about a multi-rate PIE that isn’t a KiwiSaver scheme. A PIE is a type of investment.

The rule-breaking stopped before 31 January 2021.

If all these things are true, then you won’t get in trouble for breaking those securities rules.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS330830.

Topics:
Money and consumer rights > Taxes
Money and consumer rights > Banking and loans
Business > Industry rules
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Part H Taxation of certain entities
Terminating provisions

HZ 11Protection from non-compliance: Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020

  1. Non-compliance with an enactment related to securities is ignored if the non-compliance—

  2. results from the enactment of sections 83, 103(1) and (3), and 148 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020; and
    1. relates to a product disclosure statement, or to information lodged on the relevant disclosure register, under the Financial Markets Conduct Act 2013; and
      1. concerns a multi-rate PIE that is not a KiwiSaver scheme; and
        1. comes to an end before 31 January 2021.

          Notes
          • Section HZ 11: inserted, on , by section 153 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).