1975-HKRS28-16-23_Part01 — Page 29

Amendment

of section. 423.

Amendment of section

43.

Amendment

of section 51.

Amendment of section SIB.

Amendment

of section

59.

22

shall not include the profits or losses or share of profits or losses of that individual as a member of any partnership consisting, at any time in that year of assessment, of more than twenty partners.

(9) For the purposes of subscclion (8), in cal- culating the number of partners in a partnership there shall be included every partner in any other partner- ship which is itself a partner in the first-mentioned partnership.".

31. Section 42B(1) of the principal Ordinance is amended- (a) by inserting, after "total income", the following-

*(as reduced under section 42(2))”;

(6) in paragraph (e) by deleting "and each year of assess- ment thereafter" and substituting the following-

"and the 1st April 1974”.

32. Section 43 of the principal Ordinance is amended- (a) in subsection (1) by inserting, after "total income", the

following-

"fas reduced under section 42(2))"; and

(b) in subsection (LA) by deleting "as reduced by any allowance made under section 42B(1)(e)" and substitut- ing the following-

33.

"as reduced under section 42(2)".

Section 51(1) of the principal Ordinance is amended- (a) by deleting "and XA" and substituting the following-

CA XA and XB": and

(b) by inserting, after "has elected", the following-

"*or has been deemed to have elected".

34. Section 51B(1) is amended in the proviso to paragraph (iv), by deleting "the applicant or his representative" and sub- stituting the following-

"the applicant or his authorized representative".

35. Section 59 of the principal Ordinance is amended-

(a) in subsection (1B)(5) by deleting "six hundred"; and

23

(b) in subsection (2)c) by inserting, at the beginning of the

paragraph, the following—

"in relation to the years of assessment up to and including the year of assessment commencing on the 1st April 1974,".

Amendment of section

36. Section 63C of the principal Ordinance is amended- (a) in subsections (4) and (5) by inserting, after "assess" in 630.

each place where it occurs, the following-

"or estimate": and

(5) in subsection (6) by inserting, after "assessed", the

following-

**or estimated".

37. Section 63D of the principal Ordinance is amended.......

Amendment of section

(a)

in subsection (1)(b) by deleting "the notice of assess. 63D. ment" and substituting the following-

"a notice of assessment"; and

(b)

by deleting subsection (2).

38. Section 63E of the principal Ordinance is amended-

Amendment of section

(a)

in subsection (!) by inserting, after "that year of assess. 63E. ment", the following-

"or, in the case of an application on the ground set

out in subsection (2)(d), until-

(a) the determination of the objection or set-

tlement thereof under section 64(3);

(b) he is required to pay salaries tax for that

year of assessment,

whichever is the sooner"; and

(b) in subsection (2)

(in paragraph (b) by deleting "eighty per cent" and substituting the following-

"ninety per cent":

(ii) by deleting the full stop at the end of paragraph (c) and substituting the following-

"; or"; and