Plain language law

New Zealand law explained for everyone

Financial Reporting Act 2013

External Reporting Board, standards, and provisions that apply to other enactments - Meaning of large and specified not-for-profit entity

46: Meaning of specified not-for-profit entity

You could also call this:

"What makes a charity or group a 'specified not-for-profit entity'?"

Illustration for Financial Reporting Act 2013

When you look at a law that refers to this section, an entity is called a specified not-for-profit entity for a certain time period if it meets a condition. You need to check the two time periods before that, and in each of those periods, the entity's total operating payments, including those of any entities it controls, must be $140,000 or more. This rule helps decide which entities are specified not-for-profit entities.

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 It might be out of date or be missing some parts.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=DLM4632962.

Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rules
Previous

45: Meaning of large, or

"What it means for a company to be considered "large" in New Zealand law"

Next

47: Financial reporting standards must be complied with, or

"Follow the rules for reporting money when working with the law"

Part 2External Reporting Board, standards, and provisions that apply to other enactments
Meaning of large and specified not-for-profit entity

46Meaning of specified not-for-profit entity

  1. For the purposes of an enactment that refers to this section, an entity is a specified not-for-profit entity in respect of an accounting period if, in each of the 2 preceding accounting periods of the entity, the total operating payments of the entity and all entities it controls (if any) are $140,000 or more.

Notes
  • Section 46: amended, on , by section 109 of the Regulatory Systems (Economic Development) Amendment Act 2025 (2025 No 11).
  • Section 46: amended, on , by regulation 5 of the Financial Reporting (Inflation Adjustments) Regulations 2021 (LI 2021/307).