Inland Revenue

Tax Administration Act 1994

Notice of Public Ruling

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

2. Public ruling No. 00/05 entitled “Associated persons test – timing in relation to gross income derived from the sale or other disposition of land” will appear in Inland Revenue’s Tax Information Bulletin, Vol. 12, No. 7, of July 2000.

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.

MARTIN SMITH, General Manager (Adjudication & Rulings).

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Treasury

Accident Insurance (Transitional Provisions) Act 2000

Notice of Excluded Assets and Excluded Liabilities Pursuant to Section 16 of the Accident Insurance (Transitional Provisions) Act 2000

Pursuant to section 16 of the Accident Insurance (Transitional Provisions) Act 2000, I, The Honourable Dr Michael Cullen, Treasurer/Minister of Finance, do hereby give notice that the following assets and liabilities of At Work Insurance Limited are excluded assets and excluded liabilities for the purposes of that section and will not vest in the manager:

Excluded Assets and Liabilities

1. Employment contracts between At Work Insurance Limited and employees of At Work Insurance Limited at 30 June 2000 and all associated liabilities and contingent liabilities for salaries including at risk portion, holiday pay, severance costs and accident insurance costs.

2. Executive leasing agreements and contracts for the provision of contract and temporary personnel between At Work Insurance Limited and personnel agencies at 30 June 2000 and all associated liabilities for payments under these contracts.

3. Liability for directors fees and expenses.

4. Amounts payable by At Work Insurance Limited to, or receivable by At Work Insurance Limited from, the Inland Revenue Department in respect of taxation liabilities and refunds for:

   • Income Tax
   • Foreign Dividend Withholding Payment
   • Foreign Insurers Agent Withholding Payments
   • Goods and Services Tax
   • Non Resident Withholding Tax
   • Resident Withholding Tax
   • PAYE relating to employment contracts
   • Fringe Benefits Tax
   • Imputation Credits

5. Bank accounts, debit and credit balances, and deposits held in nominated bank accounts at ASB Bank Limited.

6. Management Agreement dated 30 June 1999 with an Investment Mandate granted on 19 January 2000 to AMP Asset Management Limited. Investments in the Capital Investment Fund managed by AMP Asset Management Limited, and related accrued income and investment management fees.

7. Directors and Officers Liability Insurance policies.

8. Arrangements for provision of legal, actuarial, taxation and audit services relating to the disestablishment of At Work Insurance Limited and related sundry creditors or accrued costs at 30 June 2000.

9. The Transition Operating Agreement between the Accident Compensation Corporation and At Work Insurance Limited and related accrued costs or cost recoveries.

10. The portion of the disestablishment costs provision at 30 June 2000 relating to excluded assets and liabilities.

11. The general corporate and statutory records relating to the Board of Directors and the financial management of At Work Insurance Limited.

Dated at Wellington this 12th day of June 2000.

Signed by the Treasurer/Minister of Finance:

THE HONOURABLE Dr MICHAEL CULLEN.

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Public Trust Office Act 1957

State Sector Act 1988

The Public Trust Office (Investment Agencies in Common Fund) Notice 22 June 2000

The following notice is given pursuant to section 37 of the Public Trust Office Act 1957 and sections 28 and 41 of the State Sector Act 1988:

Notice

1. Title and commencement—This notice may be cited as the Public Trust Office (Investment Agencies in the Common Fund) Notice 22 June 2000 and shall take effect from and including the 22nd day of June 2000.

2. Interest rates on investment agencies—The rate of interest that may be paid by the Public Trustee as agent of any principal in the common fund of the Public Trust Office (referred to in this notice as “agencies”) pursuant to section 37 of the Public Trust Office Act 1957 shall, for the following terms and inclusive dollar ranges, be: