Genesis Energy Limited Initial Public Offering

This product ruling applies to the transfer of shares in Genesis Energy Limited (which includes the Loyalty Bonus Shares), by the Crown to New Zealand Applicants under the Initial Public Offering (IPO) of shares in Genesis Energy Limited. The ruling confirms the New Zealand Applicants will not derive income under section CC 3 of the Income Tax Act 2007 as a result of acquiring Loyalty Bonus Shares under the Genesis Energy Limited IPO.