Malaysia legislation
Section 9
Section 9
(2)
The Minister may cancel the pioneer certificate of a pioneer company—
(a)
where the company has failed to comply with a notice served on it under subsection (1); or
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(b)
where he is not satisfied with the reasons for the non-compliance with the conditions imposed under section 7 or with any other provisions of this Act.
(3)
Where the pioneer certificate of a pioneer company is cancelled under this section, the cancellation shall be declared to be effective—
(a)
from the date when the pioneer certificate first became operative; or
(b)
if the Minister thinks fit, from such date after the date when the pioneer certificate first became operative as the Minister may appoint.
(4)
Where paragraph (3)(a) applies in relation to the cancellation of the pioneer certificate of a pioneer company—
(a)
subsection 11(2) and sections 14 to 25 shall be deemed never to have had effect in relation to the company;
(b)
any tax repaid to the company by virtue of subsection 11(2)
shall be due and payable by the company on the date of cancellation and the provisions of the principal Act relating to recovery of tax shall apply; and
(c)
where subsection 11(2) had effect before the date of cancellation, any time running under the principal Act at the date when subsection 11(2) first had effect in relation to the company shall be deemed to have commenced to run from the date of cancellation.
(5)
Where paragraph (3)(b) applies in relation to the cancellation of the pioneer certificate of a pioneer company—
(a)
the tax relief period of the company shall be treated for the purposes of sections 14 to 25 as having ended on the date from which the cancellation is declared to be effective; and
(b)
where no accounts of the company’s pioneer business have been made up to that date, the figures in the first accounts of the company made up after that date, being accounts—
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(i)
made up for the purpose of preparing the last accounts of the pioneer business and the first accounts of the post-pioneer business of the company; and
(ii)
relating to an accounting period which includes the date of cancellation, shall for the purposes of sections 14 to 25 be apportioned by reference to the number of days of that period which fall before that date.
(6)
Where the pioneer certificate of a company is cancelled under this section the pioneer status granted to that company shall be deemed to have been revoked.
(7)
This section shall apply notwithstanding any other provision of this Act.
Surrender of pioneer status or pioneer certificate