9295
CAP. 112]
[s. 2 cont.]
(Cap. 117.)
30 of 1950, Schedule. First Schedule.
Inland Revenue.
"mortgage" means a mortgage as defined in section 3 of the Stamp Ordinance;
"owner," in relation to land or improvements thereon, includes a person who holds such land or improvements subject to a ground rent or other annual charge; "person" includes a company, partnership, or body of persons;
'precedent partner" means the partner who, of the active partners resident in the Colony-
(a) is first named in the agreement of partnership; or
(b) if there is no agreement, is specified by name or initials singly or with precedence to the other partners in the usual name of the partnership; or
(c) is first named in any statutory statement of the names of the partners;
"profits" means the net profits for any period calculated in accordance with the provisions of Part IV of this Ordinance, but does not include profits arising from the sale of capital assets;
"profits arising in or derived from the Colony" for the purposes of Part 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;
"standard rate" means the rate specified in the First Schedule;
"tax" means any tax imposed by this Ordinance;
"trade" includes every trade and manufacture, and every adventure and concern in the nature of trade;
"trustee" includes any trustee, guardian, curator, manager, or other person having the direction, control, or
- 298 -
9295
CAP. 112]
[s. 2 cont.]
(Cap. 117.)
30 of 1950, Schedule. First Schedule.
Inland Revenue.
"mortgage" means a mortgage as defined in section 3 of the
Stamp Ordinance;
"owner," in relation to land or improvements thereon, includes a person who holds such land or improvements subject to a ground rent or other annual charge; "person" includes a company, partnership, or body of
persons;
'precedent partner" means the partner who, of the active
partners resident in the Colony-
(a) is first named in the agreement of partnership; or
(b) if there is no agreement, is specified by name or initials singly or with precedence to the other part- ners in the usual name of the partnership; or
(c) is first named in any statutory statement of the
names of the partners;
"profits" means the net profits for any period calculated in accordance with the provisions of Part IV of this Ordinance, but does not include profits arising from the sale of capital assets;
"profits arising in or derived from the Colony" for the purposes of Part 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;
"standard rate" means the rate specified in the First
Schedule ;
"tax" means any tax imposed by this Ordinance;
"trade" includes every trade and manufacture, and every
adventure and concern in the nature of trade;
"trustee" includes any trustee, guardian, curator, manager, or other person having the direction, control, or
- 298
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