Plain language law

New Zealand law explained for everyone

Sport and Recreation New Zealand Act 2002

Sport and Recreation New Zealand - Financial provisions

52: Agency and trust exempt from tax

You could also call this:

"The sports trust doesn't have to pay tax if it follows certain rules."

Illustration for Sport and Recreation New Zealand Act 2002

The trust is treated as having the same tax status as the Agency if you meet two conditions. You must have all trustees appointed by the Agency. You must not change the purposes of the trust without the Agency's prior written consent. The trust refers to the New Zealand High Performance Sports Centres Trust created by deed of trust dated 30 June 2000 between the Hillary Commission and the New Zealand Sports Foundation Incorporated. You can find more information about changes to this section in the Crown Entities Act 2004.

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 It might be out of date or be missing some parts.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

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=DLM157665.

Topics:
Money and consumer rights > TaxesSports and recreation > Sports funding
Previous

51: Annual report, or

"Report each year on what Sport and Recreation New Zealand has done"

Next

53: Hillary Commission dissolved, or

"The Hillary Commission has closed down."

Part 2Sport and Recreation New Zealand
Financial provisions

52Agency and trust exempt from tax

  1. Repealed

  2. The trust is to be treated as having the same tax status as the Agency if—

  3. all of the trustees of the trust are appointed by the Agency; and
    1. none of the purposes of the trust is amended without the prior written consent of the Agency.

      1. In this section,—

        trust means the New Zealand High Performance Sports Centres Trust created by deed of trust dated 30 June 2000 between the Hillary Commission and the New Zealand Sports Foundation Incorporated.

        Notes
        • Section 52(1): repealed, on , by section 200 of the Crown Entities Act 2004 (2004 No 115).
        • Section 52(3) Inland Revenue Acts: repealed, on , by section 200 of the Crown Entities Act 2004 (2004 No 115).