TNAG-1774-FCO40-2526-Hong-Kong-Business-Registration-(Amendment)-Ordinance-1987-(-1988 — Page 21

INLAND REVENUE (AMENDMENT)

Ord. No. 28/87

A131

"right to receive income from property" means a right to have income that will or may be derived from property paid to, or applied or accumulated for the benefit of, the person owning the right.

(5) This section shall apply to any agreement made for the transfer of a right to receive income from property within the meaning of subsection (4) entered into or effected after 25 February 1987 other than an agreement made in pursuance of a legally enforceable obligation incurred on or before that date.".

5. Section 42B(1) of the principal Ordinance is amended—

(a) in paragraph (a) by deleting "$20,500" and substituting the

following-

(b) in paragraph (aa) by—

“$29,000";

(i) deleting "$8,500" wherever it occurs and substituting the following-

"$5,000";

(ii) deleting "$29,000” wherever it occurs and substituting the following-

"$34,000";

(c) in paragraph (b) by deleting "$20,500" and substituting the

following-

(d) in paragraph (bb) by—

"$31,000";

(i) deleting "$19,000" wherever it occurs and substituting the following---

"$10,000";

(ii) deleting "$60,000" wherever it occurs and substituting the following-

(e) in paragraph (c) by---

"$70,000"; and

(i) deleting "$9,000" and substituting the following

"$11,000";

(ii) deleting "$6,000” and substituting the following—

"$8,000";

(iii) deleting "$27,000" and substituting the following---

"$31,000".

Amendment of

section 42B.

6. Section 59(1B)(b) of the principal Ordinance is amended by Amendment of deleting "$28,000" and substituting the following-

section 59.

"$34,000".

7.

Section 63H(1) of the principal Ordinance is amended in the Amendment of proviso thereto

section 63H.

(a) in paragraph (c) by deleting "and" at the end;