Section HM 22 — Income Tax Act 2007: Exceptions for certain funds

HM 22 Exceptions for certain funds Public unit trust (1) Sections HM 14(1) and HM 15 do not apply to an investor class of an entity if, treating the class as a unit trust, it would meet the requirements of 1 or more of paragraphs (a) and (c) to (e) of the definition of public unit trust . Certain superannuation funds (2) Sections HM 14(1) and HM 15 do not apply in the case of an investor class of an entity that is a fund, trust, or class listed in schedule 29 , part B (Portfolio investment entities: listed investors). Defined in this Act: investor class , PIE , public unit trust , unit trust Compare: 2007 No 97 ss HL 6(3), HL 9(2) Section HM 22: inserted, on 1 April 2010 (applying for the 2010–11 and later income years), by section 292(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section HM 22(1): amended (with effect on 1 April 2010), on 21 December 2010 (applying for the 2010–11 and later income years), by section 91(1) of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130).