Clause 4

by deleting subsection (1) and substituting the following subsection:“(1) Notwithstanding section 19 where a person carrying on a trade, profession or business incurs capital expenditure on or after 1st January 1984 on the provision of machinery or plant for the purposes of that trade, profession or business he shall, in lieu of the allowances provided by section 19, be entitled for a period of 3 years to an annual allowance of 331/3% in respect of the capital expenditure incurred.”;

by inserting, immediately after the words “provided by” in subsection (1A), the words “subsection (1) or”;

by deleting the words “; and such allowance shall, in relation to a computer or other prescribed office automation equipment in respect of which allowances have been made under section 19, be treated as if it has been made under that section for the purpose of section 20(4)” in subsection (1B);

by inserting, immediately after subsection (1B), the following subsection:“(1C) Notwithstanding section 19 where a person proves to the satisfaction of the Comptroller that he has installed a robot for the purposes of a trade, business or profession carried on by him he shall, in lieu of the allowances provided by subsection (1) or section 19, be entitled, if he so elects, to an allowance of 100% in respect of the capital expenditure incurred during or after the basis period for the year of assessment 1985 on the provision of that robot.”;

by deleting paragraphs (b), (c), (d), (e), (f), (g) and (h) of subsection (4) and substituting the following paragraph:“(b)machinery or plant shall be deemed not to include the following motor vehicles within the meaning of the Road Traffic Act (Cap. 92) —

a motor car;

a motor cycle;

a goods vehicle the maximum laden weight of which does not exceed 3 tonnes.”;

by deleting subsection (5) and substituting the following subsection:“(5) Where at the end of the basis period for the year of assessment 1985 a person has in use machinery or plant in respect of which capital allowances have been made under section 19, there shall be made to him, if before the end of that year of assessment he so elects, for a period of 3 years an annual allowance of 331/3% in respect of the capital expenditure remaining unallowed under section 19 in respect of the machinery or plant as at the end of that basis period:Provided that in the case of a person to whom a certificate has been issued under Part II, III, IV, IVA, VIB or VIC of the Economic Expansion Incentives (Relief from Income Tax) Act (Cap. 135) and who has, at the end of the basis period immediately following the expiry of his tax relief period, in use, machinery or plant in respect of which capital allowances have been made under section 19, the election under this subsection shall be made before the end of the year of assessment which relates to that basis period.”; and

by deleting the words “subsection (1B)” in subsection (6) and substituting the words “subsection (1B) or (5)”.