Clause 9

by deleting subsections (3) and (4) and substituting the following subsection:“(3) For the purposes of subsection (2)(b), the amount of donations (in money or money’s worth) received by and other sums accrued to any such charitable institution, trust or body of persons for any year shall be ascertained by taking the aggregate in that year of —

donations in cash received by it;

proceeds from the disposal of all properties donated to it on or after 1st April 2003 (after deducting costs directly related to the disposal);

gains or profits from the disposal of all properties acquired by it on or after 1st April 2003 (after deducting costs directly related to the disposal); (d)proceeds, gains or profits, as the case may be, from the disposal of properties donated to it or acquired by it before 1st April 2003 and disposed of on or after that date, and for the purpose of this paragraph, this section in force immediately before that date shall apply; and

its income (after providing for allowable deductions) not falling under paragraphs (a) to (d).”;

by inserting, immediately after the words “and (g)” in subsection (5), the words “in force immediately before 1st April 2003 and subsection (3)(b) and (c)”;

by inserting, immediately after the words “and (g)” in subsection (6), the words “in force immediately before 1st April 2003 and subsection (3)(b) and (c)”;

by deleting subsection (7) and substituting the following subsection:“(7) For the purposes of determining the date of acquisition or donation of the shares and the cost of the shares acquired —

rights issues shall be deemed to have been acquired on the date the rights were exercised; and the cost in respect of each share after the exercise of the rights shall be the price paid for the acquisition of the shares; and

bonus shares and shares arising from a share split (referred to in this subsection as split shares) shall be deemed to have been acquired or donated —

where the original shares upon which the bonus shares or split shares are derived were acquired on or after 1st April 2003, on the date of acquisition of the original shares; and for this purpose, the cost in respect of each share after the bonus issue or the share split shall be determined in accordance with the formula whereXis the cost of the shares at the date of acquisition; and Yis the total number of the original shares, bonus shares and split shares; and

where the original shares upon which the bonus shares or split shares are derived were donated on or after 1st April 2003, on the date of donation of the original shares.”;

by deleting the words “or securities” wherever they appear in the definition of “disposal” in subsection (8); and

by deleting the definitions of “land”, “properties”, “real property” and “securities” in subsection (8) and substituting the following definition:“ “property” includes movable and immovable property of any kind, tangible or intangible.”.