Section CU 27 — Income Tax Act 2007: Meaning of resident mining operator

CU 27 Meaning of resident mining operator Meaning (1) Resident mining operator means a person who— (a) is resident in New Zealand; and (b) is not a mining company or a petroleum mining company; and (c) carries on, or proposes to carry on, the activities of— (i) exploring, searching, or mining for a specified mineral in New Zealand; or (ii) performing development work for exploring, searching, or mining for a specified mineral in New Zealand. How activities carried on (2) The person must carry on the activities described in subsection (1)(c), or propose to carry them on,— (a) personally and actively in the field; and (b) as a business; and (c) under an exploration permit, prospecting permit, or mining permit granted under the Crown Minerals Act 1991 or under an existing privilege as defined in section 106 of that Act. Service for reward (3) An activity described in subsection (1)(c) does not include an activity done or to be done as a service to another person for reward unless the reward— (a) is wholly or mainly related to and dependent on the production of the specified mineral; or (b) arises wholly or mainly through participation in profits from the production of the specified mineral. Defined in this Act: business , mining company , New Zealand , petroleum mining company , resident in New Zealand , specified mineral , Compare: 2004 No 35 s CU 27