Clause 47

by deleting the word “or” at the end of subsection (1)(a)(i);

by deleting the word “and” at the end of sub-paragraph (ii) of subsection (1)(a) and substituting the word “or”, and by inserting immediately thereafter the following sub-paragraph:“(iii)that is derived by it on or after 19 February 2020 from the carrying on of such prescribed qualifying structured commodity financing activities, prescribed treasury activities or prescribed advisory services in relation to mergers and acquisitions, as the Minister or a person appointed by the Minister may specify to the company; and”;

by deleting paragraph (b) of subsection (1) and substituting the following paragraph:“(b)such income as the Minister may specify of an approved qualifying company that is derived on or after 21 May 2010 from the carrying on of such prescribed qualifying structured commodity financing activities, prescribed treasury activities or prescribed advisory services in relation to mergers and acquisitions, as the Minister or a person appointed by the Minister may specify to the company,”; and

by deleting subsections (1A) and (1B) and substituting the following subsections:“(1A) No approval may be granted under this section to a global trading company after 31 December 2026.(1B) No approval may be granted under this section to a qualifying company after 31 March 2021, and any approval granted to a qualifying company must be for a period that commences on or before that date.”.