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. 97/45 was issued on 26 May 1997. It relates to the taxation of distributions made to trust beneficiaries, and the application of sections CH 2, CH 3, and HH 3 (5) of the Income Tax Act 1994, as amended by the Taxation (Core Provisions) Act 1996. 3. 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).2