Section 4K
Surrender of research and development status
of Promotion of Investments Act 1986
ActIn forceProvision 15 of 34
Section 4K
(1)
Any company granted with research and development status under subsection 4H(1) may, at any time, surrender the status by giving a notice in writing together with any reason of the surrender to the
Minister.
(2)
Where the Minister is satisfied with the reasons for the surrender of status under subsection (1), the Minister may approve the notice of surrender and the surrender shall have effect—
(a)
on the date the notice of surrender is received by the Minister;
or
(b)
on any other date as may be determined by the Minister.