1950-HKRS29-8-17_Part03 — Page 34

FIRST COLUMN.

(8) Section 19.

(9) Section 23.

(10) Section 28.

(c) Section 29.

(13) Section 30.

(13) Section 31.

5

SECOND COLUMN,

(8) Section 19 is amended by the repeal of the proviso

to subsection (1) thereof.

(9) Section 23 is amended--

(a) by the deletion in the first line of subsection (3) of the words "after the thirty-first day of March, 1946,";

(b) by the deletion in the twenty-first, twenty- second and twenty-third lines of subsection (3) of the words "or where the change took place during the year ending 31st March, 1947, within two years after the change took place,".

(10) Section 28 is amended by the repeal of the proviso

following subsection (2) thereof,

(11) Section 29 is amended by the deletion in the first line of proviso (a) of the word "banker" and the substitution therefor of the following-

"'bank".

(12) Section 30 (as amended by Ordinance No. 10 of

1950) is further amended-

(a) by the deletion of the words "accruing after

the thirty-first day of March, 1947,"';

(b) by the deletion in the sixth line thereof of the

words "deduct ten per centum from such sum" and the substitution therefor of the following-

"make a deduction from such sum at the standard rate in force at the date on which the interest is paid or is credited**;

(c) by the repeal of the addition thereto made by the Inland Revenue Amendment Ordinance, 1950.

(13) Section 31 is amended by the deletion in paragraph (i) of the word "payment" and the substitution therefor of the following-

"interest".

FIRST COLUMN. (14) Section 35-

(15) Section 36.

(16) Sections 38

and 39.

SECOND COLUMN,

(14) Section 35 is amended-

(a) by the deletion in the first and second lines of subsection (1) of the words "'in or after the basis period for the year of assessment 1947/48":

(b) by the deletion in the first and second lines of paragraph (b) of subsection (a) of the words "at any time in or after the basis period for the year of assessment 1947/48" ;

(c) by the deletion in the seventh and eighth lines of paragraph (b) of subsection (2) of the words **residual value of that expenditure" and the substitution therefor of the following-

"residue of expenditure";

(d) by the deletion of the first line of sub-para- graph (ii) of paragraph (b) of subsection (2) and the substitution therefor of the following-

"(ii) ends with the year of assessment which is the fiftieth year after the year".

(15) Section 36 is amended-

(a) by the deletion in the third line of subsection (1) of the words "in or after the basis period for the year of assessment 1947/48";

(b) by the deletion in the third and fourth lines of the proviso to subsection (1) of the words "of his basis period for the fiftieth year of assessment after that" and the substitution therefor of the following—

"of the basis period for the year of assess ment which is the fiftieth year after the year".

(16) Sections 38 and 39 are amended by the deletion in the first and second lines of subsection (1) in both cases of the words "in or after the basis period for the year of assessment 1947/48".