Section OK 15 — Income Tax Act 2007: MACA debit for loss of shareholder continuity

OK 15 MACA debit for loss of shareholder continuity Debit (1) A Maori authority has a Maori authority debit for the amount of a Maori authority credit retained in the Maori authority credit account and unused at the time at which shareholder continuity is lost. Table reference (2) The Maori authority debit in subsection (1) is referred to in table O18: Maori authority debits, row 7 (debit for loss of shareholder continuity). When debit arises (3) The debit arises at the time shareholder continuity is lost. Defined in this Act: amount , company , Maori authority , Maori authority credit , Maori authority credit account , Maori authority debit , shareholder , Compare: 2004 No 35 s MK 5(1)(f), (2)(f) Section OK 15(1): amended (with effect on 1 April 2008), on 7 December 2009, by section 93(1) of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section OK 15(3) heading: amended (with effect on 1 April 2008), on 7 December 2009, by section 93(2) of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63). Section OK 15(3): amended (with effect on 1 April 2008), on 7 December 2009, by section 93(2) of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63).