Clause 11

by deleting paragraph (a) of subsection (1A) and substituting the following paragraph:“(a)need not be an approved firm or approved company to be allowed a deduction under subsection (1) in respect of the following expenditure that is directly attributable to the carrying out of any study to identify investment overseas:

where the expenditure is incurred during the period between 1 April 2012 and 16 February 2021 (both dates inclusive) — any investment development expenditure;

where the expenditure is incurred during the period between 17 February 2021 and 31 December 2025 (both dates inclusive) — such investment development expenditure as is prescribed by rules made under section 7; and”;

by inserting, immediately after subsection (1A), the following subsection:“(1AA) Rules made for the purposes of subsection (1A)(a)(ii) may be made to take effect from (and including) 17 February 2021.”; and

by deleting the definition of “investment development expenditure” in subsection (7) and substituting the following definition:“ “investment development expenditure” means —

expenses directly attributable to the carrying out of —

any study to identify investment overseas; and

any feasibility or due diligence study on any approved investment overseas; and

expenses incurred on or after 17 February 2021 for the transportation of any sample for use in any study carried out overseas to identify investment overseas.”.