Section 66
Section 15 of the principal Act is amended —
(a)
by substituting for the words “nominal share capital”
wherever appearing the words “issued share capital”;
(b)
by deleting subsection (2);
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(c)
in subsection (5)—
(i)
in paragraph (b), by substituting for the words “two years” the words “three years”; and
(ii)
in paragraph (c), by substituting for the words “two years” the words “three years”; and
(d)
by inserting after subsection (6) the following subsection:
“(6A) Where any claim for exemption from duty under this section has been allowed and any of the circumstances specified under subsection (5) occurs, each company which was a party to the instrument shall notify the
Collector of the circumstances of the occurrence within thirty days from the date of the occurrence.”.
Amendment of section 15A