treated as if it had been sold immediately before the destruction thereof and any insurance moneys or other compensation of any description received by the person carrying on the trade or business in respect of the destruction and any money received by him in respect of the remains of the plant or machinery shall be treated as if they were proceeds of that sale.
(c) The reference in paragraph () to the time of sale shall be construed as a reference to the time of completion or the time when possession is given. whichever is the earlier.
(4) (a) In this section-
"an approved research institute" means any univer- sity, college, institute, association or organiza- tion which is approved in writing for the purposes of this section by the Director of Education as an institute, association or organization for undertaking scientific research which is or may prove to be of value to the Colony;
"scientific research" means any activities in the fields of natural or applied science for the extension of knowledge.
(b) An approval for the purposes of paragraph (a)
may
() operate as from a date, whether before or after the date of approval, specified in the instru- ment of approval; and
(i) be withdrawn at any time.
(5) In this section-
(a) references to expenditure incurred on scientific research do not include any expenditure incurred
in the acquisition of rights in, or arising out of scientific research, but, save as aforesaid and sub- ject to paragraph (b) of subsection (1), include all expenditure incurred for the prosecution of, or the provision of facilities for the prosecution of, scientific research; and
Payments for technical education.
(b) references to scientific research related to a trade or business or class of trade or business shall be read as including a reference to-
(i) any scientific research which may lead to or facilitate an extension, or an improvement in the technical officiency, of that trade or business, or, as the case may be, of trades or businesses of that class; and
(ii) any scientific research of a medical nature which is of special relation to the welfare of workers employed in that trade or business or, as the case may be, in trades or businesses of that class.
(6) For the purposes of this section-
(a) expenditure shall not be regarded as incurred by a person in so far as it is, or is to be, met directly or indirectly by the Crown or by any government or public or local authority, whether in the Colony or elsewhere, or by any person other than the first- mentioned person; and
(b) any expenditure of a capital nature incurred on scientific research related to any trade or business by a person about to carry on that trade or business shall be treated as if it had been incurred by that person on the first day upon which he does carry on that trade or business.
(7) The same sums paid, or expenditure incurred, shall not be taken into account for any of the purposes of this section in relation to more than one trade or business.
16C. (1) Notwithstanding anything in section 17. where a person carrying on a trade or business in the Colony makes any payment to be used for the purposes of technical education related to that trade or business at any university, university college, technical college or other similar institution which is approved in writing for the purposes of this section by the Director of Education (being an amount which is not otherwise allowable as a deduction under this Ordinance), the payment shall be deducted as an expense in ascertaining the profits from that trade or business for the year of assessment in the basis period of which the payment was made.
(2) For the purposes of this section, technical educa- tion shall be deemed to be related to a trade or business if, and only if, it is technical education of a kind specially