Section HR 9 — Income Tax Act 2007: Financial institution special purpose vehicles are transparent

HR 9 Financial institution special purpose vehicles are transparent For the purposes of the liabilities and obligations under an Inland Revenue Act of a financial institution described in the definition of financial institution special purpose vehicle , paragraph (b), and the relevant financial institution special purpose vehicle,–– (a) the financial institution is treated as carrying on an activity carried on by the financial institution special purpose vehicle, and having a status, intention, and purpose of the financial institution special purpose vehicle, and the financial institution special purpose vehicle is treated as not carrying on that activity or having that status, intention, or purpose: (b) the financial institution is treated as holding property that the financial institution special purpose vehicle holds, and the financial institution special purpose vehicle is treated as not holding that property: (c) the financial institution is treated as being party to any arrangement to which the financial institution special purpose vehicle is a party, and the financial institution special purpose vehicle is treated as not being that party to that arrangement: (d) the financial institution is treated as doing a thing and being entitled to a thing that the financial institution special purpose vehicle does or is entitled to, and the financial institution special purpose vehicle is treated as not doing that thing or being entitled to that thing. Defined in this Act: arrangement , financial institution , financial institution special purpose vehicle , Inland Revenue Acts Section HR 9: added (with effect on 1 April 2008), on 6 October 2009, by section 294(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34). Section HR 9 heading: amended (with effect on 1 June 2010), on 7 September 2010, by section 77(1) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9: amended (with effect on 1 June 2010), on 7 September 2010, by section 77(2)(a) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9: amended (with effect on 1 June 2010), on 7 September 2010, by section 77(2)(b) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9: amended (with effect on 1 June 2010), on 7 September 2010, by section 77(2)(c) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9(a): amended (with effect on 1 June 2010), on 7 September 2010, by section 77(3)(a) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9(a): amended (with effect on 1 June 2010), on 7 September 2010, by section 77(3)(b) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9(b): amended (with effect on 1 June 2010), on 7 September 2010, by section 77(3)(a) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9(b): amended (with effect on 1 June 2010), on 7 September 2010, by section 77(3)(b) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9(c): amended (with effect on 1 June 2010), on 7 September 2010, by section 77(3)(a) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9(c): amended (with effect on 1 June 2010), on 7 September 2010, by section 77(3)(b) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9(d): amended (with effect on 1 June 2010), on 7 September 2010, by section 77(3)(a) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9(d): amended (with effect on 1 June 2010), on 7 September 2010, by section 77(3)(b) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9 list of defined terms financial institution : inserted (with effect on 1 June 2010), on 7 September 2010, by section 77(4)(b) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9 list of defined terms financial institution special purpose vehicle : inserted (with effect on 1 June 2010), on 7 September 2010, by section 77(4)(b) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9 list of defined terms registered bank : repealed (with effect on 1 June 2010), on 7 September 2010, by section 77(4)(a) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109). Section HR 9 list of defined terms RMBS special purpose vehicle : repealed (with effect on 1 June 2010), on 7 September 2010, by section 77(4)(a) of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).