XN000022-1972-05-24 — Page 15

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Wednesday, May 24, 1972

"I am advised by the Commissioner of Inland Revenue that these two

sections have proved to be most useful and effective," he said.

He pointed out that over the first two and a half years of their

operation, notices under section 51A had been served on 13 occasions and

12 had been complied with without objection.

Apart from those cases, tax payers in 88 other cases had co-operated

in returning statements of assets and liability without the Commissioner

having resort to formal notices, he added.

The powers contained in section 51B had so far been used on two

occasions and the searches had been carried out with the minimum of

disruption of business, he said.

"I consider that those two sections have been well tested and the

Government proposes that they should become permanent provisions of the

Inland Revenue Ordinance. To this end a bill will shortly be introduced into

this Council.

"However, as the law standa at present, these sections are due to

expire on June 19, 1972. Accordingly, this resolution seeks to extend the

operation of these two sections until October 1 this year," he said.

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