Finance Act 1991

1: Short Title and commencement
1: This Act may be cited as the Finance Act 1991.
2: Except as provided in subsection (3), this Act shall come into force on the day on which it receives the Royal assent.
3: Sections 2 to 6 10 to 13 15 to 19 21 to 26
4: A date may be appointed pursuant to subsection (3) for bringing section 5 section 6
5:
6: A date may be appointed pursuant to subsection (3) for bringing section 11 section 12
7: A date may be appointed pursuant to subsection (3) for bringing section 13
8: A date may be appointed pursuant to subsection (3) for bringing section 18 section 19
9:
10: A date may be appointed pursuant to subsection (3) for bringing section 24 section 25
11: A date may be appointed pursuant to subsection (3) for bringing section 26 Section 1(3) brought into force 10 December 1991 clause 2(2) Finance Act Commencement Order 1991 Section 1(3) brought into force 13 December 1991 clause 2(1) Finance Act Commencement Order 1991 Section 1(3) brought into force 22 January 1992 Finance Act Commencement Order 1992 Section 1(3) brought into force 17 March 1992 Finance Act Commencement Order (No 2) 1992 Section 1(3) brought into force 17 April 1992 Finance Act Commencement Order (No 3) 1992 Section 1(3) brought into force 21 August 1996 Finance Act Commencement Order 1996 Section 1(3) brought into force 1 October 1996 Finance Act Commencement Order (No 2) 1996 Section 1(3) brought into force 1 May 2011 Finance Act 1991 Commencement Order 2011 Section 1(3) brought into force 1 December 2015 Finance Act 1991 Commencement Order 2015 Section 1(3) amended 1 April 2005 section YA 2 Income Tax Act 2004 Section 1(5) repealed 1 April 2005 section YA 2 Income Tax Act 2004 Section 1(9) repealed 1 April 2005 section YA 2 Income Tax Act 2004
1: State-owned enterprises
Forestry Corporation of New Zealand Limited
2: Addition to Schedules 1 and 2 of State-Owned Enterprises Act 1986
Amendment(s) incorporated in the Act(s)
3: Consequential amendments
The enactments specified in Schedule 1
4: Provision for Forestry Corporation of New Zealand Limited to cease to be State enterprise
1: The State-Owned Enterprises Act 1986 Schedule 1 Forestry Corporation of New Zealand Limited
2: Notwithstanding the coming into force of subsection (1) section 22 the Corporation
a: the Corporation were a State enterprise; and
b: the Minister of Finance and the Minister for State Owned Enterprises were the shareholding Ministers for the Corporation.
3: The State-Owned Enterprises Act 1986 Schedule 2 Forestry Corporation of New Zealand Limited
4: Notwithstanding the coming into force of subsection (3) and whether or not all or any of the shares in the Corporation are held by Ministers of the Crown on behalf of the Crown, sections 23 to 30
a: the Corporation were a State enterprise and a company named in Schedule 2
b: the Minister of Finance and the Minister for State Owned Enterprises were the shareholding Ministers for the Corporation.
5: Each Minister of the Crown who holds shares in the Corporation on behalf of Her Majesty the Queen may exercise all or any of Her Majesty's rights and powers as the holder of those shares.
5: Amendment to Ombudsmen Act 1975
Amendment(s) incorporated in the Act(s)
6: Amendment to Official Information Act 1982
Amendment(s) incorporated in the Act(s)
7: Amendment to Income Tax Act 1976
Section 7 repealed 1 April 2005 section YA 2 Income Tax Act 2004 GCS Limited
8: Amendment to Schedules 1 and 2 of State-Owned Enterprises Act 1986
Section 8 repealed 18 November 1994 section 5(5) Finance Act 1994
9: Consequential amendments
1: The enactments specified in Schedule 2
2: Section 11 Government Supply Brokerage Corporation (N.Z.) Limited
10: Provision for Government Supply Brokerage Corporation (NZ) Limited to cease to be State enterprise
1: The State-Owned Enterprises Act 1986 Schedule 1 section 19(1) Government Supply Brokerage Corporation (N.Z.) Limited
2: Notwithstanding the coming into force of subsection (1), section 22 the Corporation
a: the Corporation were a State enterprise; and
b: the Minister of Finance and the Minister for State Owned Enterprises were the shareholding Ministers for the Corporation.
3: The State-Owned Enterprises Act 1986 Schedule 2 section 19(1) Government Supply Brokerage Corporation (N.Z.) Limited
4: Notwithstanding the coming into force of subsection (3) and whether or not all or any of the shares in the Corporation are held by Ministers of the Crown on behalf of the Crown, sections 23 to 30
a: the Corporation were a State enterprise and a company named in Schedule 2
b: the Minister of Finance and the Minister for State Owned Enterprises were the shareholding Ministers for the Corporation.
5: Each Minister of the Crown who holds shares in the Corporation on behalf of Her Majesty the Queen may exercise all or any of Her Majesty's rights and powers as the holder of those shares.
6: Section 19(1)
11: Amendment to Ombudsmen Act 1975
1: Amendment(s) incorporated in the Act(s)
2: Amendment(s) incorporated in the Act(s)
12: Amendment to Official Information Act 1982
1: Amendment(s) incorporated in the Act(s)
2: Amendment(s) incorporated in the Act(s)
13: Amendment to Income Tax Act 1976
Section 13 repealed 1 April 1995 Income Tax Act 1994 National Provident Management Company Limited
14: Addition to Schedules 1 and 2 of State-Owned Enterprises Act 1986
Amendment(s) incorporated in the Act(s)
15: Consequential amendments
The enactments specified in Schedule 3
16: State Sector Act 1988 amended
Amendment(s) incorporated in the Act(s)
17: Provision for National Provident Management Company Limited to cease to be State enterprise
1: The State-Owned Enterprises Act 1986 Schedule 1 National Provident Management Company Limited
2: Notwithstanding the coming into force of subsection (1), section 22 the Corporation
a: the Corporation were a State enterprise; and
b: the Minister of Finance and the Minister for State Owned Enterprises were the shareholding Ministers for the Corporation.
3: The State-Owned Enterprises Act 1986 Schedule 2 National Provident Management Company Limited
4: Notwithstanding the coming into force of subsection (3) and whether or not all or any of the shares in the Corporation are held by Ministers of the Crown on behalf of the Crown, sections 23 to 30
a: the Corporation were a State enterprise and a company named in Schedule 2
b: the Minister of Finance and the Minister for State Owned Enterprises were the shareholding Ministers for the Corporation.
5: Each Minister of the Crown who holds shares in the Corporation on behalf of Her Majesty the Queen may exercise all or any of Her Majesty's rights and powers as the holder of those shares.
18: Amendment to Ombudsmen Act 1975
Amendment(s) incorporated in the Act(s)
19: Amendment to Official Information Act 1982
Amendment(s) incorporated in the Act(s)
20: Amendment to
Income Tax Act 1976 Section 20 repealed 1 April 2005 section YA 2 Income Tax Act 2004 Timberlands West Coast Limited
21: Addition to Schedules 1 and 2 of State-Owned Enterprises Act 1986
Amendment(s) incorporated in the Act(s)
22: Consequential amendments
The enactments specified in Schedule 4
23: Provision for Timberlands West Coast Limited to cease to be State enterprise
1: The State-Owned Enterprises Act 1986 Schedule 1 Timberlands West Coast Limited
2: Notwithstanding the coming into force of subsection (1), section 22 the Corporation
a: the Corporation were a State enterprise; and
b: the Minister of Finance and the Minister for State Owned Enterprises were the shareholding Ministers for the Corporation.
3: The State-Owned Enterprises Act 1986 Schedule 2 Timberlands West Coast Limited
4: Notwithstanding the coming into force of subsection (3) and whether or not all or any of the shares in the Corporation are held by Ministers of the Crown on behalf of the Crown, sections 23 to 30
a: the Corporation were a State enterprise and a company named in Schedule 2
b: the Minister of Finance and the Minister for State Owned Enterprises were the shareholding Ministers for the Corporation.
5: Each Minister of the Crown who holds shares in the Corporation on behalf of Her Majesty the Queen may exercise all or any of Her Majesty's rights and powers as the holder of those shares. 2011-05-01 State-Owned Enterprises Act 1986 Section 23 brought into force by Finance Act 1991 Commencement Order 2011 (SR 2011/102): amends Schs 1 and 2.
24: Amendment to Ombudsmen Act 1975
The Ombudsmen Act 1975 Part 2 section 22 Timberlands West Coast Limited OIC LI 2015/243 2015-12-01 Ombudsmen Act 1975 ss 24 and 25 to come into force by OIC (as per s 1(10) of this Act) if at least 50% of ordinary shares in Timberlands West Coast Limited is no longer held by the Crown. Treasury will advise when this threshhold is reached. If this happens, s 1(11) of this Act should be repealed. | I found no authority to repeal s 1(11), and also because the OIC brought into force s 26 too, as authorised by s 1(11), it seems to be wrong to repeal it (MF)
25: Amendment to Official Information Act 1982
The Official Information Act 1982 Schedule 1 section 23(1) section 22 Timberlands West Coast Limited OIC LI 2015/243 2015-12-01 Official Information Act 1982 s 25 to come into force by OIC (as per s 1(10) of this Act) if at least 50% of ordinary shares in Timberlands West Coast Limited is no longer held by the Crown. Treasury will advise when this threshhold is reached. If this happens, s 1(11) of this Act should be repealed. | I found no authority to repeal s 1(11), and also because the OIC brought into force s 26 too, as authorised by s 1(11), it seems to be wrong to repeal it (MF)
26: Amendment to Income Tax Act 2007
The Income Tax Act 2007 schedule 36 Timberlands West Coast Limited OIC LI 2015/243 2015-12-01 Income Tax Act 2007 s 26 of this Act to come into force by OIC (as per s 1(11) of this Act) if no ordinary shares in the capital of Timberlands West Coast Limited are held by the Crown. Treasury will advise when this threshhold is reached. If this happens, s 1(10) of this Act should be repealed. | I found no authority to repeal s 1(10), and also because the OIC brought into force ss 24 & 25 too, as authorised by s 1(10), it seems to be wrong to repeal it (MF) Section 26 substituted 1 April 2008 section ZA 2(1) Income Tax Act 2007
2: Other substantive provisions
27: Validating making and issue of Tokelau commemorative coins
1: The making and issue of the coins to which subsections (2) to (4) apply is hereby validated and deemed to have been lawful; and they are hereby deemed to have been since their issue, and to continue to be, legal tender in Tokelau only.
2: This subsection applies to the coin (known as the Tokelau 1989 Five Dollar Explorer Commemorative Coin) that—
a: has for the obverse impression, within a border pattern around the periphery consisting of 18 groups of 3 dots (each group representing the 3 atolls of Tokelau),—
i: the effigy of Her Majesty the Queen in profile, wearing a diadem; and
ii: the expression TOKELAU • 1989
b: has for the reverse impression—
i: a representation of HMS Dolphin HMS DOLPHIN
ii: a representation of Captain Byron RN; and
iii: below those representations, the words LIMA TALA
iv: between those representations and the words LIMA TALA $5
c: is made of ﻿.﻿925 sterling silver, weighs 27.21 grammes, and has a diameter of 38.7 millimetres and a milled edge.
3: This subsection applies to the coin (known as the Tokelau 1991 Five Dollar Pearl Harbor Commemorative Coin) that—
a: has for the obverse impression, within a border pattern around the periphery consisting of 18 groups of 3 dots (each group representing the 3 atolls of Tokelau),—
i: the effigy of Her Majesty the Queen in profile, wearing a diadem; and
ii: the expression TOKELAU • 1991
b: has for the reverse impression a representation, surrounded by the expression PEARL HARBOR • DECEMBER 7th 1941 • $5
c: is made of cupronickel, weighs 28.28 grammes, and has a diameter of 38.6 millimetres and a milled edge.
4: This subsection applies to the coin (known as the Tokelau 1991 Fifty Dollar Pearl Harbor Commemorative Coin) that—
a: has for the obverse impression, within a border pattern around the periphery consisting of 18 groups of 3 dots (each group representing the 3 atolls of Tokelau),—
i: the effigy of Her Majesty the Queen in profile, wearing a diadem; and
ii: the expression TOKELAU • 1991
b: has for the reverse impression a representation, surrounded by the expression PEARL HARBOR • DECEMBER 7th 1941 • $50
c: is made of pure silver 999/1 000, weighs 31.103 grammes (1 troy ounce), and has a diameter of 38.6 millimetres and a milled edge.
28: Finance Act (No 2) 1990 amended
Amendment(s) incorporated in the Act(s)