Section CT 5 — Income Tax Act 2007: Petroleum mining operations outside New Zealand

CT 5 Petroleum mining operations outside New Zealand This subpart, and sections CX 42 (Disposal of ownership interests in controlled petroleum mining entities) and CX 43 (Farm-out arrangements for petroleum mining), apply, with any necessary modifications, to a petroleum miner who undertakes petroleum mining operations that are— (a) outside New Zealand and undertaken through a branch or a controlled foreign company; and (b) substantially the same as the petroleum mining activities governed by this subpart and sections CX 42 and CX 43 . Defined in this Act: controlled foreign company , New Zealand , petroleum miner , petroleum mining operations , Compare: 2004 No 35 s CT 5