Section 57
Prohibition against selling, leasing out or disposing of qualifying equipment
of Economic Expansion Incentives (Relief from Income Tax) Act 1967
ActIn forceProvision 57 of 65
Section 57
Amended by8/20188/2018
(1)
Except as permitted under subsection (2), a company must not sell, lease (except to the project company) or otherwise dispose of any qualifying equipment in respect of which an IIA has been given to the company, during the qualifying period of the equipment and within 2 years after the end of such qualifying period.
Amended by8/2018
(2)
Subsection (1) does not apply if the company obtains the Minister’s written approval for the sale, lease or disposal.[97ZH
Amended by8/2018