Singapore legislation
Clause 5
of Economic Expansion Incentives (Relief from Income Tax) Bill
Clause 5
Power to issue and amend a pioneer certificate
(1)
Any company which is desirous of producing a pioneer product may make an application in writing to the Minister to be approved as a pioneer enterprise in such form and with such particulars as may be prescribed.
(2)
Where the Minister is satisfied that it is expedient in the public interest to do so and in particular having regard to the production or anticipated production of the pioneer product from all sources of production in Singapore, he may approve such company as a pioneer enterprise and issue a pioneer certificate to such company, subject to such conditions as he thinks fit.
(3)
Every pioneer certificate issued under this section shall specify —
the day on or before which it is expected that the pioneer enterprise will commence to produce in marketable quantities the product specified in such certificate; and
the rate of production of such product which it is expected will be attained on or before such day,and such day shall be deemed to be the production day of the pioneer enterprise for the purposes of this Act.
(4)
The Minister may in his discretion, upon the application of any pioneer enterprise, amend its pioneer certificate by substituting for the production day specified therein such earlier or later date as he thinks fit and thereupon the provisions of this Act shall have effect as if the date so substituted were the production day in relation to such pioneer enterprise.