Section 6

dengan menggantikan perkataan “for a period of twelve years of assessment” yang terdapat dalam perenggan (1)(a)) dengan perkataan “for twelve years of assessment (hereinafter referred to as the exemption period) commencing from the year of assessment 1982 or in the case of a company whose first basis period ends after 31 December 1981”;

Kewangan 7

dengan menggantikan perkataan “ten” yang terdapat dalam perenggan (2)(a) dengan perkataan “fifteen”;

dengan menggantikan perenggan (2)(c) dan (d) dengan perenggan baharu (c) dan (d) yang berikut:

“(c) during every four consecutive basis periods for the exempt years of assessment (hereinafter referred to as the relevant period) the company shall undertake a programme to increase the tonnage of its fleet of ships or vessels and shall for this purpose incur capital expenditure on the acquisition of ships or vessels which shall not be less than seventy-five per cent of such fleet acquisition reserve as at the end of the relevant period:

Provided that if at the end of the twelve year period where a person has incurred capital expenditure on the acquisition of ships or vessels of not less than seventy-five per cent of the total fleet acquisition reserve, he shall be entitled to the full exemption specified in paragraph (1)(a); and

where at any time during a relevant period any of the conditions have not been complied with or where the

Director General is of the opinion that any expenditure deemed to have been incurred has not in fact been incurred, this section shall be deemed never to have had effect for that relevant period.”;

dan

dengan menambahkan sebaik selepas subseksyen (2), subseksyen baharu (3) yang berikut:

“(3) For the purposes of this section, capital expenditure is deemed to have been incurred—

when expenditure is made;

8 Undang-Undang Malaysia AKTA 264