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Earthquake Commission Act 1993

10 Exemption from income tax

(1)

The Commission is hereby declared to be exempt from the payment of income tax under the Income Tax Act 2007.

(2)

The Commission shall pay into a Crown Bank Account, from time to time, sums in lieu of income tax; and such sums shall be of such amount and shall be paid at such times as the Minister from time to time determines after consultation with the Commission.

Section 10(1): amended, on 1 April 2008 (effective for 2008–09 income year and later income years, except when the context requires otherwise), by section ZA 2(1) of the Income Tax Act 2007 (2007 No 97).

Section 10(2): amended, on 25 January 2005, pursuant to section 65R(3) of the Public Finance Act 1989 (1989 No 44).