Notice of Product Ruling 1. This is a notice of a product ruling made under section 91f of the Tax Administration Act 1994. 2. Product ruling No. 97/35 was issued on 28 April 1997. It relates to an investment product, and the application of section OB 1 and the ``qualified accruals rules'' as defined in section OZ 1 (1) of the Income Tax Act 1994, as amended by the Taxation (Core Provisions) Act 1996. 3. Product ruling No. 97/35 is essentially the same as product ruling 96/4 issued on 29 February 1996, except that it takes into account the coming into force of the Taxation (Core Provisions) Act 1996, with effect from the 1997/98 income year. 4. A copy of the ruling may be obtained by writing to the Assistant General Manager (Adjudication & Rulings), National Office, Inland Revenue, P.O. Box 2198, Wellington. JEFFREY TYLER, Assistant General Manager (Adjudication & Rulings).3