NEW ZEALAND GAZETTE

No. 4

Notice of Product Ruling

1. This is a notice of a product ruling made under section 91F of the Tax Administration Act 1994.

2. Product ruling No. 96/45 was issued on 18 December 1996. It relates to the application demutualisation process and the application of sections 61, 63, and the definitions of “gift” and “disposition of property” in section 2 (2) of the Estate and Gift Duties Act 1968. It will appear in Inland Revenue’s Tax Information Bulletin, Vol. 9, No. 1 of January 1997.

3. A copy of the ruling may be obtained by writing to the Assistant General Manager (Adjudication & Rulings), National Office, Inland Revenue, P.O. Box 2198, Wellington.

JEFFREY TYLER, Assistant General Manager (Adjudication & Rulings).

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Notice of Product Ruling

1. This is a notice of a product ruling made under section 91F of the Tax Administration Act 1994.

2. Product ruling No. 96/44 was issued on 11 December 1996. It relates to the entering into of electricity forward commitment contracts and the application of section 3 (1) of the Goods and Services Tax Act 1985.

3. A copy of the ruling may be obtained by writing to the Assistant General Manager (Adjudication & Rulings), National Office, Inland Revenue, P.O. Box 2198, Wellington.

JEFFREY TYLER, Assistant General Manager (Adjudication & Rulings).

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Notice of Product Ruling

1. This is a notice of a product ruling made under section 91F of the Tax Administration Act 1994.

2. Product ruling No. 96/43 was issued on 10 December 1996. It relates to the cancellation of shares and the application of sections CF 2 (1) and CF 3 (1) (b) of the Income Tax Act 1994 as amended by the Taxation (Core Provisions) Act 1996. It will appear in Inland Revenue’s Tax Information Bulletin, Vol. 9, No. 1 of January 1997.

3. A copy of the ruling may be obtained by writing to the Assistant General Manager (Adjudication & Rulings), National Office, Inland Revenue, P.O. Box 2198, Wellington.

JEFFREY TYLER, Assistant General Manager (Adjudication & Rulings).

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Internal Affairs

Local Government Act 1974

New Plymouth District Boundary Alteration Notice 1996

Pursuant to section 37P (2) of the Local Government Act 1974, the Minister of Local Government gives the following notice.

N o t i c e

1. Title and commencement—(1) This notice may be cited as the New Plymouth District Boundary Alteration Notice 1996.

(2) This notice shall come into force on the 1st day of February 1997.

2. Boundaries of New Plymouth District—(1) The boundaries of the New Plymouth District are hereby altered by including in that district all that area situated between the existing seaward boundary of the New Plymouth District and the line of mean low water springs.

(2) For the purposes of subclause (1) of this clause, wherever the boundary of the New Plymouth District meets the boundary of another territorial authority district at the mean high water mark, the boundary of the New Plymouth District shall extend from that point along a line running at 90 degrees from the line of the mean high water mark to the point where the boundary meets the line of mean low water springs.

(3) Nothing in this notice shall have the effect of excluding from the New Plymouth District any area included in that district prior to this notice coming into force.

Dated this 19th day of December 1996.

Hon. CHRISTINE FLETCHER, Minister of Local Government.

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The Treasury

Public Finance Act 1989

Notice of Indemnity

Notice of indemnity given pursuant to section 59 (1) of the Public Finance Act 1989.

Pursuant to section 59 (2) of the Public Finance Act 1989, the Minister of Finance makes the following statement:

Under the sale and purchase agreement with Fletcher Challenge Limited (FCL) for the sale of the Forestry Corporation of New Zealand Limited executed on the twenty-first day of August 1996, I, William Francis Birch, Minister of Finance, gave an indemnity pursuant to section 59 (1) of the Public Finance Act 1989. The Crown has indemnified FCL for the costs of cleaning up environmental contamination. In respect of on-site environmental costs and losses incurred up until settlement date (27 September 1996), FCL will pay the first $30 million of any clean-up and half of the next $20 million. The Crown will pay for half of any cost over $30 million and for all costs over $50 million. The on-site environmental indemnity runs until 1 January 2020. The Crown also indemnifies FCL in respect of off-site environmental costs and losses incurred up until settlement date. The off-site environmental indemnity is unlimited as to amount and time.

Dated at Wellington this 17th day of December 1996.

Rt Hon. W. F. BIRCH, Minister of Finance.

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