Malaysia legislation
Section 31
Section 31
Finance 33
Subsection 2(1) of the Petroleum (Income Tax) Act 1967, which is referred to as the “principal Act” in this Chapter, is amended—
(a)
in the definition of “Malaysia”—
(i)
by inserting after the words “subsoil of the territorial waters” the words “and the airspace above such areas”; and
(ii)
by inserting after the words “sovereign rights”
the words “or jurisdiction”; and
(b)
in the definition of “secondary recovery”, by substituting for the words “and/or accelerated recovery of those hydrocarbons” the words “and accelerated recovery of those hydrocarbons which is carried out subsequent to the earlier recovery process”.
Amendment of section 41a