Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A * post - choice NZ franking company is not a prescribed person under section 208 - 40 for the purposes of working out whether another * corporate tax entity is an * exempting entity at a particular time because it is effectively owned by prescribed persons within the meaning of section 208 - 25.
(2) However, this section does not prevent the company from being taken under section 208 - 45 to be a prescribed person for those purposes.