Section HM 71 — Income Tax Act 2007: Choosing to become PIE

HM 71 Choosing to become PIE An entity that, at the time of election, meets the requirements of the entry rules in sections HM 8 to HM 10 , HM 17 , HM 18 , and HM 20 , except to the extent to which the relevant requirement is said not to be applicable to the entity, may choose to become a PIE by notifying the Commissioner under section 31B of the Tax Administration Act 1994. Defined in this Act: Commissioner , notify , PIE Compare: 2007 No 97 s HL 11(1), (3) Section HM 71: 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).