Finance Act (No 2) 1952

1: Short Title
This Act may be cited as the Finance Act (No 2) 1952.
1: Public revenues
2: Annual contribution from Consolidated Fund for Loans Redemption Account
Section 2 repealed 1 January 1954 New Zealand Loans Act 1953
3: Basic value of sheep for income tax and death duty purposes in case of persons who died during year ended 31 August 1951
1: In this section, unless the context otherwise requires,— approved valuer basic value
a: a valuation made and certified as provided in this section as at the first of the effective dates of sheep of the same number, quality, sex, age, and condition; and
b: a valuation made and certified as provided in this section as at the second of the effective dates of sheep of the same number, quality, sex, age, and condition Commissioner effective dates prescribed period sheep
2: The executor or administrator of the estate of any person who died during the prescribed period may apply in writing to the Commissioner within 6 months after the passing of this Act, or within such extended time (not exceeding a further 12 months) as the Commissioner in any case allows, to have the value of the sheep owned by the deceased person at the date of his death reduced to the basic value.
3: Every such application shall be accompanied by certificates of valuations of the sheep certified by an approved valuer as having been made by him as at the effective dates on the basis that the climatic and all other local conditions at the effective dates were the same as those prevailing at the date of death, and also certified as having been approved by a meeting of the members of the constituent association of the New Zealand Stock and Station Agents' Association of which the employer of the approved valuer is a member.
4: Where application is duly made in accordance with this section—
a: the basic value of the sheep shall be taken into account for the purpose of assessing the income tax and social security charge on income derived during the period ending with the date of death and the period immediately following the date of death: provided that this paragraph shall not apply in any case where a standard value which is lower than the basic value is required to be taken into account for that purpose by section 16 of the Land and Income Tax Amendment Act 1939 as from time to time amended:
b: the basic value of the sheep shall be deemed to be the value thereof for the purpose of assessing death duty in the estate of the deceased person:
c: in any case where paragraph (a) applies the amount of income tax and social security charge (if any) required to be allowed as a debt under section 9 of the Death Duties Act 1921 in respect of the income of the deceased person for the period ending with the date of his death shall be the amount of the tax or charge as assessed in accordance with that paragraph,— and all assessments of any such income tax, social security charge, or death duty shall be made accordingly or if already made shall be amended accordingly.
5: All income tax, social security charge, and death duty paid in excess of the amount payable under an assessment made or amended in accordance with this section shall be refunded without further authority than this section.
4: Provision for relief from death duty to prevent forced sale of farm land or farm stock
1: In this section— beneficiary deceased farmer farm land farm stock
2: The Governor-General in Council may appoint a Commission under the Commissions of Inquiry Act 1908
3: If in any such case the Commission appointed as aforesaid is satisfied that the claim has been established and that a sale of the farm land or farm stock or a substantial part thereof would be contrary to the general economic interests of New Zealand in that it would result or would be likely to result in reduced primary production, the Commission may recommend that relief as hereinafter provided should be granted.
4: The Commissioner of Stamp Duties, with the approval of the Minister of Finance, may in accordance with the report and recommendation of the Commission and without further authority than this section do all or any of the following things:
a: postpone the payment of the whole or any part of the death duty payable in the deceased farmer's estate without penalty for any period not exceeding 5 years from the date of his death:
b: reduce or remit the interest payable from time to time on the death duty the payment of which is so postponed:
c: reduce the death duty payable in the deceased farmer's estate by an amount not exceeding one-fifth thereof, subject to the condition that the farm land is not sold for a period of 5 years from the date of death of the deceased farmer and that the farm stock is maintained for that period in the same condition as to numbers and quality.
5: Exemptions from duty on gifts to United Nations appeal for children
Section 5 repealed 28 October 1955 Estate and Gift Duties Act 1955
6: Disposal of surplus in Employers' Liability Insurance Account
Section 6 repealed 1 July 1992 Accident Rehabilitation and Compensation Insurance Act 1992
7: Repealing Land Settlement Finance Act 1909, and vesting assets of land settlement associations in the Crown
Section 7 repealed 1 April 1978 Public Finance Act 1977
8: Salary of Judge of Land Valuation Court
Section 8 repealed 1 October 1954 section 9(3) Finance Act 1954
9: Salary of additional Judge of the Court of Arbitration
Section 9 repealed 1 October 1954 section 8(2) Finance Act 1954
10: Salary of Chairman of Local Government Commission
Section 10 repealed 1 March 1954 Local Government Commission Act 1953
11: Minister of Finance may make agreements and execute documents in connection with purchase of mining rights at Christmas Island
Amendment(s) incorporated in the Act(s)
12: Amending provisions as to lodging allowances to holders of war bursaries
Section 12 repealed 1 April 1972 Defence Act 1971
2: Social security and war pensions
Part 2 repealed 1 April 1965 section 135(1) Social Security Act 1964
13: Social security charge payable by Maori authorities
Section 13 repealed 1 April 1965 section 135(1) Social Security Act 1964
14: Amending provisions as to due dates for payment of charge on income other than salary or wages
Section 14 repealed 1 April 1965 section 135(1) Social Security Act 1964
15: Amending provisions as to qualifications for widows' benefits
Section 15 repealed 1 April 1965 section 135(1) Social Security Act 1964
16: Family benefit to be disregarded in assessing damages or compensation
Section 16 repealed 1 April 1965 section 135(1) Social Security Act 1964
17: Amending definition of veteran for purposes of War Pensions Act 1943
Section 17 repealed 1 April 1965 section 135(1) Social Security Act 1964
3: Local authorities and public bodies
18: Payment of loan moneys by local authority to bank until required
Section 18 repealed 1 April 1957 Local Authorities Loans Act 1956
19: Validating contributions to United Nations appeal for children
It shall be lawful and be deemed to have been lawful for any local authority or public body to expend moneys out of its general fund or account for the purpose of making contributions in response to the appeal made by the United Nations in the year 1952 to a fund established and to be used to provide food for the relief of distressed children in overseas countries.
20: Donations by local authorities and public bodies to Royal New Zealand Foundation of the Blind
It is lawful and is deemed to have been lawful for any local authority or public body to expend money out of its general fund or account for the purpose of making contributions to the Royal New Zealand Foundation of the Blind. Section 20 replaced 30 April 2003 section 28(1) Royal New Zealand Foundation of the Blind Act 2002
21: Extending powers of County Councils as to purchase and distribution of weedkillers for eradication of noxious weeds
Section 21 repealed 1 April 1957 Counties Act 1956
22: Increasing annual allowance of President of New Zealand Counties Association Incorporated
Section 22 repealed 26 October 1956 New Zealand Counties Association Amendment Act 1956
23: Validating gift by Council of Governors of Nelson College to Lord Rutherford Memorial Fund
The payment by the Council of Governors of Nelson College of the sum of 100 pounds during the financial year ending with 31 January 1953 to the Lord Rutherford Memorial Fund is hereby validated and declared to have been lawfully made.
4: Miscellaneous
24: Coronation Day to be a public holiday
1: Tuesday 2 June 1953, being the date fixed for Her Majesty's coronation (in this section referred to as Coronation Day
2: All factories, shops, offices, business premises, constructional work, and other undertakings, other than those carrying on any essential work or service, shall be closed throughout the whole of Coronation Day, and for the purpose of calculating the hours of work of any worker during the week in which Coronation Day falls, Coronation Day shall be deemed to be a day worked for the number of hours usually worked by that worker for his employer on that day of the week, although no work may actually be done by that worker on Coronation Day, and he shall receive payment accordingly.
3: Where any worker is required to work on Coronation Day for the purpose of carrying on any essential work or service he shall, in addition to the payment to which he is entitled under the last preceding subsection, be paid for the time worked on Coronation Day at not less than the ordinary rate, or, if the employer and the worker so agree, shall within 1 month be allowed equivalent time off work on a later day convenient to the employer, and shall receive payment at not less than the ordinary rate in respect of the time so allowed off work.
25: Dissolution of Kamo Collieries Ltd., Star Coal Co. Ltd., and Linton Coal Co. Ltd., and vesting of assets in Crown for State coal mines
1: For the purposes of this section the term the company
2: On the passing of this Act Kamo Collieries Limited, Star Coal Company Limited, and Linton Coal Company Limited shall be deemed to be dissolved, and all the real and personal property, contracts, rights of action and other rights, obligations, and liabilities of the company shall be deemed to become property, contracts, rights, obligations, and liabilities of Her Majesty the Queen for the purposes of Part 3 of the Coal Mines Act 1925 without the necessity of any instrument of transfer, assignment, or other assurance.
3: The dissolution of the company shall be reported by the Minister of Mines or by some person authorised by the Minister in that behalf to the appropriate Assistant Registrar of Companies, who shall make in his books a minute of the dissolution of the company.
4: All lands and coal mines vested in Her Majesty by this section and all property formerly acquired from the company by the Crown and remaining vested in Her Majesty on the passing of this Act shall be deemed to be subject to Part 3 of the Coal Mines Act 1925, and shall be held and dealt with thereunder and not otherwise.
5: Every estate, right, title, or interest of the company in or to or under any real or personal property or any contract or agreement shall pass by this Act, notwithstanding that the consent or approval of any person, body, or authority may be requisite for the assignment thereof by the company, or that it is not capable of assignment apart from the provisions of this section.
6: Notwithstanding anything in any other Act, where any real or personal property or right becomes vested in Her Majesty by virtue of this section and the title of the company thereto is or should have been entered in any register required by law to be kept, the Registrar or company or other person whose duty it is to keep that register shall, on the request in writing of the Minister of Mines or of any other person authorised by the Minister in that behalf, without payment of any fee, enter in the register the name of Her Majesty the Queen as the owner of that property or right.
7: No estate or interest of the company in any real or personal property shall upon its vesting in Her Majesty pursuant to this section merge in any other estate or interest in that property already held by Her Majesty or be in any way affected by reason of the fact that the title thereto consists in a grant or demise issued by Her Majesty or issued in respect of Crown lands; and every such estate or interest shall continue to subsist for the purposes of Part 3 of the Coal Mines Act 1925.
8: The Minister of Mines or any other person authorised in that behalf by the Minister may from time to time exercise on behalf of Her Majesty all or any of Her Majesty's rights and powers as owner of the property, contracts, and rights vested in Her Majesty by this section.
26: Amending provisions as to Stratford–Whangamomona Railway (Stratford Deviation)
Section 26 repealed 1 February 1982 section 248(1) Public Works Act 1981
27: Functions of Attorney-General may be performed by Solicitor-General
Section 27 repealed 1 November 1999 section 38(1) Interpretation Act 1999
28: Testing fee by applicants for drivers' licences
Section 28 repealed 1 May 1963 section 201(1) Transport Act 1962
29: Duration of Emergency Forces Act 1950 extended
Section 29 repealed 30 April 1953 Emergency Forces Rehabilitation Act 1953
30: Authorising contracts of sale whereby price of goods is to be determined with reference to pending application for special approval
Section 30 repealed 1 November 1975 Commerce Act 1975
31: Retrospective effect of certain Price Order
Price Order No 1277 made under the Control of Prices Act 1947 and published in the Gazette