Section EE 42 — Income Tax Act 2007: Transfer of radiocommunications licence right on or after 24 September 1997

EE 42 Transfer of radiocommunications licence right on or after 24 September 1997 When this section applies (1) This section applies when, on or after 24 September 1997, the holder of management rights created under the Radiocommunications Act 1989 grants a licence right under that Act to an associated person. Exclusion (2) This section does not apply when the Crown acting by and through the Secretary of Commerce is named as the manager under section 11(1) of the Radiocommunications Act 1989. Cost of licence right (3) For the purposes of determining the amount of depreciation loss that the associated person has, the cost of the licence right to the associated person is treated as zero. Defined in this Act: amount , associated person , depreciation loss , Compare: 2004 No 35 s EE 35