Malaysia legislation
Section 27
Section 27
Amendment of section 27i
(a)
in the shoulder note, by substituting for the words
“subsection 26i(1)” the words “subsections 26i(1), (1a)
and (1b)”;
(b)
in subsection (1)—
(i)
by substituting for the words “subsection 26i(1)”
the words “subsections 26i(1) and (1a)”; and
Promotion of Investments (Amendment)
(ii)
in paragraph (b) of the proviso, by substituting for the words “subsection 26i(1)” the words
“subsections 26i(1) and (1a)”;
(a)
where the Minister is satisfied that the company was engaged in an activity or in the production of a promoted product, or had otherwise incurred capital expenditure in relation thereto, from a date prior to the date from which the activity or product was deemed as a promoted activity or promoted product under section 4d in relation to renewable energy for own consumption, the approval may be granted retrospectively from a date not earlier than the date such activity or product is prescribed by the
Minister as a promoted activity or promoted product under section 4d; and
(b)
no approval shall be granted retrospectively under subsection (1a) or under the foregoing proviso from a date which is earlier than three years from the date the application under subsection 26i(1b) is received by the Minister.”; and
(c)
by inserting after subsection (1) the following subsection:
“(1a) The Minister may grant an approval in respect of an application for an investment tax allowance made under subsection 26i(1b) subject to such terms and conditions as he deems fit:
Provided that—
(d)
in subsection (2), by substituting for the words “subsection
(1)
” the words “subsections (1) and (1a)”.
Deletion of section 27l