1964 Ed.]
Tax Reserve Certificates.
[CAP. 289
1
CHAPTER 289.
TAX RESERVE CERTIFICATES.
To provide for the issue of tax reserve certificates and their acceptance in payment of certain taxes, and for purposes connected therewith.
Originally
66 of 1955.
G.N.A. 29/58. G.N.A. 159/60.
70€ 1985
[23rd December, 1955.]
1. This Ordinance may be cited as the Tax Reserve Certificates Ordinance.
2. In this Ordinance, unless the context otherwise requires- "Commissioner" means the Commissioner of Inland Revenue;
"certificates" means tax reserve certificates issued by the Commissioner under the provisions of section 3.
3. (1) The Commissioner is hereby empowered to issue tax reserve certificates of such denominations and subject to such conditions as the Governor may prescribe by rules.
(2) The certificates shall, subject to such conditions as the Governor may prescribe by rules, be accepted by the Commissioner, together with any interest due thereon, in payment by the holder thereof of any amount due by him in respect of any, or all, of the taxes specified in the Schedule, the assessment and collection of which are vested in the Commissioner.
(3) The Governor may by order published in the Gazette amend the Schedule.
4. (1) All moneys received for the purchase of certificates issued under this Ordinance shall be paid by the Commissioner into an account in the Treasury to be called "Deposits-Tax Reserve Certificates", and the principal moneys required for the redemption of the certificates shall be paid by the Commissioner out of such account.
(2) Any interest which may become due and payable in respect of any certificate shall be charged upon and paid out of the general revenue and assets of the Colony.
Short title.
Interpretation.
Power of Commissioner to issue tax reserve certificates.
Method of accounting for moneys received for purchase of tax reserve certificates, and manner of redemption of certificates and payment of interest.
SCHEDULE.
Any tax charged under the Inland Revenue Ordinance.
(Cap. 112.)
(Replaced, G.N.A. 159/60)