Commentary on Sections Overview Overview Section 724: Regulations
2785.This section contains powers for the Board of Inland Revenue to make regulations for dealing with purchased life annuities. It rewrites equivalent provisions in sections 656 and 658 of ICTA.
2786.Subsection (1) covers three general matters:
	prescribing the procedures to be used;
	applying provisions of the Income Tax Acts (modified if appropriate); and
	prescribing the tables of mortality.