Section EW 4 — Income Tax Act 2007: What is not a financial arrangement?

EW 4 What is not a financial arrangement? Absolute assignment (1) An absolute assignment of some or all of a person’s rights under another financial arrangement or under an excepted financial arrangement is not a financial arrangement, except to the extent described in section EW 3(3)(c) . Legal defeasance (2) A legal defeasance releasing a person from some or all of their obligations under another financial arrangement or under an excepted financial arrangement is not a financial arrangement, except to the extent described in section EW 3(3)(d) . Excepted financial arrangement (3) An excepted financial arrangement is not a financial arrangement. The relationship between financial arrangements and excepted financial arrangements is dealt with in section EW 6 . Defined in this Act: excepted financial arrangement , financial arrangement , legal defeasance , Compare: 2004 No 35 s EW 4