310171-1941-Supplementary-Bills-read-a-first-time--War-Revenue — Page 3

Board of War Taxation.

Official secrecy.

488

"profits arising in or derived from the Colony" for the purposes of Chapter IV shall, without in any way limiting the meaning of the term, include all profits from business transacted in the Colony, whether directly or through an agent;

receiver includes any receiver or liquidator, and any assignee, trustee, or other person having the possession or control of the property of any person by reason of insolvency or bankruptcy;

tax means any tax imposed by this Ordinance; "trade" includes every trade and manufacture, and every adventure and concern in the nature of trade;

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trustee includes any trustee, guardian, curator, manager, or other person having the direction, control, or management of any property on behalf of any person, but does not include an executor;

"United Kingdom" means the United Kingdom of Great Britain and Northern Ireland;

Written-down value" means the residue of the cost to the owner thereof of any asset after deducting a sum repre- senting the total depreciation which has occurred in such asset since the date of purchase by him;

"year of assessment means the period of twelve months commencing on the first day of April, nineteen hundred and forty, and each subsequent period of twelve months com- mencing on the first day of April;

year preceding a year of assessment means the period of twelve months ending on the thirty-first day of March immediately prior to such year of assessment;

3.(1) (a) There shall be a Board of War Taxation composed of the Financial Secretary and four other members appointed by the Governor, of whom not more than one shall be an official in the employment of the Government. A member so appointed shall hold office until he shall resign or be removed from office by the Governor.

(b) Three members of the Board of War Taxation shall form a quorum for the transaction of business and when the Financial Secretary is present he shall be the Chairman.

(c) All matters coming before the Board of War Taxa- tion shall be decided by a majority of votes, and in the case of an equality of votes the Chairman or presiding member shall have a second or a casting vote.

(2) For the purposes of this Ordinance, the Governor may appoint a Commissioner, a Deputy Commissioner, Assistant Commissioners, and Examiners.

(3) An Assistant Commissioner exercising or performing any power, duty, or function of the Commissioner under this Ordinance shall be deemed for all purposes to be authorized to exercise or perform the same until the contrary is proved.

(4) All powers conferred upon an Examiner by this Ordinance may be exercised by an Assistant Commissioner.

4.-(1) Except in the performance of his duties under this Ordinance, every person who has been appointed under or who is or has been employed in carrying out or in assisting any person to carry out the provisions of this Ordinance shall