Income Tax Act 2007 section 1019

Meaning of "certificate of deposit"

Section 1019 defines what a "certificate of deposit" means for the purposes of the Income Tax Act 2007.

  • A certificate of deposit is a document relating to the deposit of money in any currency.
  • It recognises an obligation to pay a stated principal amount to the bearer or to order, with or without interest.
  • The right to receive the stated amount, with or without interest, is transferable simply by delivering the document, with or without endorsement.
  • This definition is relevant wherever the term "certificate of deposit" appears throughout the Act.

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