Section LZ 8 — Income Tax Act 2007: Meaning of home vendor mortgage

LZ 8 Meaning of home vendor mortgage In sections LZ 6 and LZ 7 , home vendor mortgage means a mortgage— (a) that secures a loan provided by the vendor or vendors of a house; and (b) that is guaranteed by the Housing New Zealand Corporation under its housing mortgage guarantee scheme; and (c) that has been approved by the Housing New Zealand Corporation, on or before 5 August 1982, for the purpose of the credit under this section; and (d) for which notice of such guarantee and approval and of any variation has been delivered by the Housing New Zealand Corporation to the Commissioner. Defined in this Act: Commissioner , home vendor mortgage , loan , notice , Compare: 2004 No 35 s KE 1(3)