New Zealand Legislation: Bills

11 When is a transfer caused by a shareholding relationship?

• (1) The section heading to section CD 6 is replaced by “Certain shareholding relationships”.

  (2) Section CD 6(1) is repealed.

  (3) The heading to section CD 6(2) is replaced by “Indication that transfer caused by shareholding relationship”.

  (4) In section CD 6(3), the words before paragraph (a) are replaced by the following:

  • “(3) A transfer of value by a statutory producer board to a member is not caused by a shareholding if—”.

  (5) In section CD 6(4), the words before paragraph (a) are replaced by the following:

  • “(4) A transfer of value by a co-operative company to a shareholder is not caused by a shareholding if—”.

  (6) Subsections (1) to (5) apply for the 2009–10 and later income years.