Clause 6

Notwithstanding any other provisions of this Act, in determining the income of a company derived from any business of the making of investments the following provisions shall apply:

any outgoings and expenses incurred by the company in respect of investments of that business which do not produce any income shall not be allowed as a deduction under section 14 for that business or other income of the company;

any outgoings and expenses incurred by the company in respect of investments of that business which produce any income shall only be available as a deduction under section 14 against the income derived from such investments and any excess of such outgoings and expenses over such income in any year shall be disregarded; and

the allowances under sections 19, 19A, 20 and 21 relating to that business shall only be available as a deduction against the income derived from investments of that business which produce any income and the balance of the allowances in any year shall be disregarded.(2) For the purpose of this section —“business of the making of investments” includes the business of letting immovable properties;“investments” means securities and immovable properties.”.