Commentary on Sections Incidental functions Section 74: Tax
198.This section enables the Treasury to make regulations including provision in relation to tax in connection with the exercise of powers in this Part of the Act.
199.Subsection (2) sets out the taxes in relation to which provision may be made.
200.Subsections (3), (4), (5) and (6) set out the effects which the regulations may have. The regulations may have retrospective effect but only up to three months before the date the stabilisation power is first exercised in relation to the bank concerned.
201.Subsection (7) allows the Treasury to change the taxes listed in subsection (2) by order. Subsection (8) makes provision about the procedures for making regulations and orders.