Clause 3

The repeal effected by this Act shall apply in respect of the duty which would have been payable in relation to the annual value, income or profits of bodies corporate or unincorporate of the year ending 31st December, 1967, and subsequent years.

Nothing in this Act shall affect the liability to pay any duty payable under the Corporation Duty Ordinance in respect of the years prior to the year ending the 31st day of December 1967.