Section 32
Certificate for transferred awards
of Economic Expansion Incentives (Relief from Income Tax) Act 1967
(1)
A certificate issued to a transferee company under section 31(6)(f) must specify —
in the case of a pioneer industry award —
the subject product; and
the production day mentioned in section 31(6)(c);
in the case of a pioneer service award —
the subject activity; and
the Part 3 commencement day mentioned in section 31(6)(c); or
in the case of a development and expansion award —
the subject activity;
the Part 4 commencement day mentioned in section 31(6)(c); and
the concessionary rate of tax to be levied for the subject activity.
(2)
Where the Minister approves an application under section 31(1) involving 2 or more pioneer products, 2 or more Part 3 qualifying activities or 2 or more Part 4 qualifying activities (as the case may be), the Minister may issue a single certificate to the transferee company in respect of those pioneer products, Part 3 qualifying activities or Part 4 qualifying activities if —
the tax relief periods of the transferee company for all the pioneer products, Part 3 qualifying activities or Part 4 qualifying activities (as the case may be) expire on the same day; and
the Minister is satisfied that the transferee company is producing or will produce all the pioneer products, or is engaging in or will engage in all the Part 3 qualifying activities or Part 4 qualifying activities, as part of the same project.
(3)
A certificate issued to a transferee company under section 31(6)(f) is treated as a pioneer certificate, a certificate issued under section 17 or a certificate issued under section 21, as the case may be.[23