PRINTED AND PUBLISHED BY D. S. P. PEARCE, ACTING GOVERNMENT PRINTER AT THE GOVERnment Press, JAVA ROAD, HONG KONG
L
INLAND REVENUE (AMENDMENT) (NO. 3)
L.S.
HONG KONG
No. 48 OF 1980
I assent.
Ord. No. 48/80
A243
JACK CATER,
Acting Governor.
24 July 1980.
An Ordinance to amend the Inland Revenue Ordinance.
[25 July 1980]
Enacted by the Governor of Hong Kong, with the advice and consent
of the Legislative Council thereof.
1. (1) This Ordinance may be cited as the Inland Revenue (Amend- Short title and ment) (No. 3) Ordinance 1980.
(2) Section 2 shall apply to the year of assessment commencing on
1 April 1980 and to subsequent years of assessment.
commencement.
(3) Sections 3 and 4 shall apply to the year of assessment com- mencing on 1 April 1979 and to subsequent years of assessment.
2. Section 28(1) of the principal Ordinance is amended in the Amendment of proviso thereto—
section 28. (Cap. 112.)
(a) in paragraph (e) by deleting the full stop after "Ordinance" and
substituting a semicolon; and
(b) by inserting after paragraph (e) the following-
(Cap. 119.)
3.
"(f) any interest paid or payable in respect of a loan made by a credit union registered under the Credit Unions Ordinance to a member thereof.".
Section 42B(1) of the principal Ordinance is amended-
(a) in paragraph (a) by deleting "$10,000" and substituting the
following-
"$12,500";
(b) in paragraph (aa) by deleting "10 per cent" and substituting the
following-
"the percentage specified in Part 1 of the Fourth Schedule";
(c) in paragraph (b) by deleting "$10,000" and substituting the
following-
"$12,500";
(d) in paragraph (bb) by deleting "10 per cent" and substituting the
following-
"the percentage specified in Part 2 of the Fourth Schedule"; (e) in paragraph (c)—
(i) by deleting "$4,000" and substituting the following-
"$5,000";
Amendment of section 42B.
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