Economic Expansion Incentives (Relief from Income Tax) Act 1967 · 2020 Revised Edition · Part 10 · Miscellaneous Provisions
61. Revocation of certificate or letter
Feedback & supportLast amended by an amending law of 2023. 2 amendments in all.
Where the Minister is satisfied that any company to which a certificate or letter has been issued under the provisions of this Act has contravened —
company
“company” means any company incorporated or registered in accordance with the provisions of any written law relating to companies;
any of the provisions of this Act; or
any terms or conditions imposed on the certificate or letter,the Minister may, by written notice, require the company within 30 days from the date of service of the notice to show cause why the certificate or letter should not be revoked.
If the Minister is satisfied that, having regard to all the circumstances of the case it is expedient to do so, the Minister may revoke the certificate or letter with effect from a date determined by the Minister.
certificate
“certificate” includes a letter or other document issued by the Minister to a company pursuant to an application made by the company under a provision of this Act;
Where a certificate or letter is revoked under subsection (2), the provisions of this Act cease to have effect from the date determined by the Minister under that subsection.
This section applies to an approval granted under section 33, 37, 40A or 40E(1)(b), as if —
a reference in this section to the issue of a certificate or letter is a reference to the approval of a loan under section 33, the approval of royalties, fees or contributions under section 37, or the approval of an activity under section 40A or 40E(1)(b);
a reference in this section to terms or conditions imposed on the certificate or letter is a reference to the conditions of the approval mentioned in section 33(4)(a), 37(3)(a), 40A(4)(a) or 40E(1)(b), as the case may be;
a reference in this section to the revocation of a certificate or letter is a reference to the revocation of such approval; (d)a reference in this section to the date of a certificate or letter is a reference to the date of such approval; and
a reference in this section to the provisions of this Act ceasing to have effect in relation to a certificate or letter is a reference to the provisions of this Act ceasing to have effect in relation to the approved loan, the approved royalties, fees or contributions, or the approved activity.[99