Plain language law

New Zealand law explained for everyone

Commodity Levies Act 1990

Levy orders

9: Financial provisions

You could also call this:

"How industry organisations manage the levy money they collect"

Illustration for Commodity Levies Act 1990

When a levy order says you have to pay a levy to an industry organisation, the organisation must open a bank account just for the levy. They can only use this account to put in the levy money that people pay and to make payments using the levy money. The organisation decides who can use the account, and only those people can operate it. The organisation can only take money out of the account for reasons that are allowed by the levy order or the Commodity Levies Act.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM227334.

Topics:
Money and consumer rights > TaxesBusiness > Industry rules
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8: Conscientious objectors, or

"Paying a levy in a different way because of your beliefs or religion"

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10: Use of levy, or

"What the money collected from a levy can be used for"

Part 1Levy orders

9Financial provisions

  1. Where a levy order has imposed a levy payable to an industry organisation,—

  2. the organisation shall open 1 or more bank accounts for the purpose of the levy, and shall use that account or those accounts for the following purposes only:
    1. the deposit of amounts of levy paid or recovered:
      1. making payments out of levy:
      2. only people for the time being expressly authorised by the organisation shall be capable of operating the account or accounts:
        1. no money shall be paid out of the account or accounts except for a purpose or purposes authorised by the order or this Act.