Section EH 75 — Income Tax Act 2007: Refund on liquidation

EH 75 Refund on liquidation When this section applies (1) This section applies when a person— (a) has a thinning operations 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 thinning operations income equalisation account on the date, regardless of the length of time it has been in the account. Defined in this Act: amount , Commissioner , date the deposit ends , liquidation , person , thinning operations income equalisation account , Compare: 2004 No 35 s EH 77