Economic Expansion Incentives (Relief from Income Tax) Act 1967 · 2020 Revised Edition · Part 7 · Royalties, Fees and Development Contributions
38. Notice of variation of terms of agreement or arrangement
Feedback & supportIf for any reason any approved royalties, fees or contributions payable by a company cease to become payable before the expiry of the period of agreement or arrangement related thereto, the company must, within 30 days from the date on which the royalties, fees or contributions cease to become payable, give notice thereof to the Minister.
approved royalties, fees or contributions
“approved royalties, fees or contributions” means royalties, technical assistance fees or contributions to research and development costs which have been approved under section 37 to be approved royalties, fees or contributions;
The company to which a certificate has been issued under section 37 must not, without the prior sanction of the Minister, amend or otherwise vary the terms of the agreement or arrangement related thereto, except in cases where for the same consideration the amount of the approved royalties, fees or contributions is to be reduced and in that event the company must notify the Minister accordingly within 30 days from the date on which the amount is reduced.[62
company
“company” means any company incorporated or registered in accordance with the provisions of any written law relating to companies;