Section EH 25 — Income Tax Act 2007: Refund on liquidation

EH 25 Refund on liquidation When this section applies (1) This section applies when a person— (a) has a main income equalisation account; and (b) is put into liquidation. Refund (2) The Commissioner must refund to the liquidator appointed for the person the amount that, on the date the deposit ends, is in the person’s main income equalisation account, regardless of the length of time it has been in the account. Section EH 28 overrides this subsection. Defined in this Act: amount , Commissioner , date the deposit ends , liquidation , main income equalisation account , person , Compare: 2004 No 35 s EH 25