Clause 34

by deleting the word “and” at the end of subsection (1)(c);

by deleting the full-stop at the end of paragraph (d) of subsection (1) and substituting a semi‑colon, and by inserting immediately thereafter the following paragraphs:“(e)the leasing of any container used for international transportation of goods, if the container was —

acquired by an approved related party before or during the period of the approval of the related party under subsection (4); and

leased by the approved related party to the approved container investment enterprise; (f)the leasing of any intermodal equipment that is incidental to the lease mentioned in paragraph (e), if the intermodal equipment was —

acquired by an approved related party before or during the period of the approval of the related party under subsection (4); and

leased by the approved related party to the approved container investment enterprise; and

foreign exchange and risk management activities that are carried out in connection with and incidental to the leases mentioned in paragraphs (e) and (f).”;

by inserting, immediately after subsection (1), the following subsection:“(1A) Subsection (1)(e), (f) and (g) only applies to income derived on or after 12 December 2018.”;

by deleting the words “Subsection (1)” in subsection (2) and substituting the words “Subsection (1)(a), (b), (c) or (d)”;

by deleting the words “referred to in subsection (1)” in subsection (2) and substituting the words “mentioned in that provision”;

by inserting, immediately after subsection (2), the following subsections:“(2A) Subsection (1)(e), (f) or (g) continues to apply to a container investment enterprise the approval of which has expired or been withdrawn, but that continues to derive income of the type mentioned in that provision if both the container investment enterprise and the approved related party have by the date of the expiry or before the withdrawal, fulfilled all the conditions of their respective approvals under subsection (4).(2B) For the purpose of subsection (2A), the container investment enterprise is treated under this section as an approved container investment enterprise.(2C) Subsection (1)(a), (c), (e) and (f) does not apply to income derived on or after 12 December 2018 from the leasing of a container or intermodal equipment that is acquired by the approved container investment enterprise or the approved related party by way of a finance lease entered into with an entity that is not an approved related party.”;

by inserting, immediately after the words “container investment enterprise” in subsection (3), the words “or a related party of an approved container investment enterprise”; (h)by deleting the full-stop at the end of the definition of “registered business trust” in subsection (7) and substituting a semi‑colon, and by inserting immediately thereafter the following definition: “ “related party”, in relation to an approved container investment enterprise, means any entity that is related to the approved container investment enterprise in such manner as may be prescribed by rules made under section 7.”; and

by inserting, immediately after subsection (7), the following subsection:“(8) Rules made for the purpose of the definition of “related party” in subsection (7) may be made to take effect from (and including) 12 December 2018.”.