1964_INLAND_REVENUE_ORDINANCE — Page 12

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1989 Ed.]

Inland Revenue

[CAP. 112

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(c) any instrument for defeating or making redeemable, or explaining or qualifying any conveyance, transfer or disposition of any property whatsoever, apparently absolute, but intended only as a security; and

(d) any instrument relating to the deposit of any title deeds or instru- ments constituting or being evidence of the title to any property whatsoever or creating a charge on any property whatsoever; and any mortgage by an equitable owner of his equitable rights; and (f) any warrant of attorney to enter up judgment; (Replaced 79 of

1979 s. 2) [cf. 1891 c. 39 s. 86 U.K.]

(e)

"net chargeable income" means net chargeable income calculated in accordance

with section 12B; (Added 71 of 1983 s. 2)

"owner" in respect of land or buildings or land and buildings, includes a person holding directly from the Crown, a beneficial owner, a tenant for life, a mortgagor, a mortgagee in possession, a person who is making payments to a co-operative society registered under the Co-operative Societies Ordinance (Cap. 33) for the purpose of the purchase thereof, and a person who holds land or buildings or land and buildings subject to a ground rent or other annual charge; and includes an executor of the estate of an owner; (Added 26 of 1969 s. 3. Amended 8 of 1983 s. 2)

"person" includes a corporation, partnership, trustee, whether incorporated or unincorporated, or body of persons; (Amended 2 of 1971 s. 2; 30 of 1981 s. 2)

"precedent partner" means the partner who, of the active partners resident in

Hong Kong----

(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 arising in or derived from Hong Kong" for the purposes of Part IV shall, without in any way limiting the meaning of the term, include all profits from business transacted in Hong Kong, 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;

"retirement scheme" means any scheme or arrangement, whether or not it is enforceable or intended to be enforceable by legal proceedings, under which, or any provident fund out of which, there is to be paid for the benefit of any person or of his widow, children, surviving dependants or legal representative, any pension, annuity, lump sum, gratuity or other like benefit to be paid-

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