Income Tax Act 2007 section 613

Redemption arrangements

Section 613 provides a power to make regulations dealing with cases involving repurchase agreements (repos) and the redemption of securities.

• This section grants a regulation-making power related to repos and the redemption of securities.
• It addresses situations where securities are subject to repurchase agreements and are subsequently redeemed.
• The regulations may set out how income tax applies in these specific repo and redemption scenarios.
• The provision is derived from earlier legislation in sections 737B(1) and 737E(2), (8) and (9) of ICTA.