Clause 20

by inserting, immediately after subsection (2), the following subsections:“(2A) Where a trade or business is prescribed under subsection (2), then, unless otherwise provided in regulations —

the Minister or appointed person may only approve an application under subsection (2) for a renovation or construction on the ground that it promotes the prescribed intensified use of the land for such trade or business, if —

the application is made on or after a prescribed date; and

the application for planning permission or conservation permission for the construction or renovation is made on or after a prescribed date; and

in relation to any construction or renovation that is approved on the ground mentioned in paragraph (a), the qualifying capital expenditure for which an allowance may be made under subsections (3) and (4) excludes any expenditure incurred before a prescribed date.(2B) Each prescribed date mentioned in subsection (2A)(a)(i) and (ii) and (b) is, unless otherwise specified in the regulations, the date the trade or business is prescribed under subsection (2).”;

by deleting subsection (5) and substituting the following subsections:“(5) No allowance is to be made under subsection (4) for any year of assessment unless —

in a case where 2 or more temporary occupation permits are to be issued for the subject of the approved construction or renovation, and one or more of those temporary occupation permits have been issued but not all of them, at least 80% of the total floor area of the subject of each temporary occupation permit that has been issued; or

in any other case, at least 80% of the total floor area of the subject of the approved construction or renovation,is used, at the end of the basis period for that year of assessment, by any one person or partnership for the purposes of the specified trade or business, and, for the case in paragraph (a), that person or partnership is the same person or partnership for all the subjects of the temporary occupation permits that have been issued.(5A) In subsection (5), the subject of an approved construction or renovation, or of a temporary occupation permit, is the building or structure, all the buildings or structures, or the part or all the parts of a building or structure, as the case may be, that forms or form the subject matter of the approved construction or renovation, or the temporary occupation permit.”;

by deleting the words “, between 23rd February 2010 (in the case of subsection (1)) or 22nd February 2014 (in the case of subsection (1A)), and the date of completion of that construction or renovation (both dates inclusive)” in the definition of “qualifying capital expenditure” in subsection (12) and substituting the words “on or after 23 February 2010 (in the case of subsection (1)) or 22 February 2014 (in the case of subsection (1A))”;

by deleting the full‑stop at the end of the definition of “specified trade or business” in subsection (12) and substituting a semi‑colon, and by inserting immediately thereafter the following definition:“ “temporary occupation permit” means a temporary occupation permit granted under section 12(3) of the Building Control Act (Cap. 29).”; and

by inserting, immediately after subsection (12), the following subsections:“(13) In this section, capital expenditure for the renovation or construction of a building or structure or of a part of a building or structure, that is incurred after the date a temporary occupation permit is issued for the building, structure or part of the building or structure (as the case may be) is not qualifying capital expenditure.(14) In this section —

a reference to a temporary occupation permit issued or to be issued for one or more buildings or structures or one or more parts of a building or structure (called in this paragraph the subject) is, if no temporary occupation permit is issued or to be issued for the subject, a reference to the certificate of statutory completion issued or to be issued under section 12(1) of the Building Control Act for —

the subject; or

a building or structure that includes the subject; and

a reference to the date of issue of a temporary occupation permit is to be construed accordingly.”.