Section FE 34 — Income Tax Act 2007: Identifying ultimate parent

FE 34 Identifying ultimate parent Identifying company (1) The ultimate parent is the company identified in subsection (2) or (3), as applicable. Registered bank’s parent (2) An ultimate parent of a registered bank is a company— (a) that has an ownership interest in the registered bank of 50% or more; and (b) in which no other company that has an ownership interest in the registered bank of 50% or more has an ownership interest. Fixed establishment’s parent (3) The ultimate parent of a registered bank’s fixed establishment in New Zealand is the registered bank. Ownership interests (4) For the purposes of this section, ownership interests are determined under sections FE 38 to FE 41 . Defined in this Act: company , fixed establishment , New Zealand , registered bank , ultimate parent , Compare: 2004 No 35 s FG 8C(9), (10)