Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill

by inserting, immediately after the definition of “approved project”, the following definition: —“ “construction operations” means —

construction, alteration, repair, extension or demolition of buildings and structures;

construction, alteration, repair, extension or demolition of any works forming, or to form, part of any land; or

any operations which form an integral part of, or are preparatory to, or are for rendering complete the operations described in paragraph (a) or (b) including site clearance, earthmoving, excavation, laying of foundations, site restoration, landscaping and the provision of drains and of roadways and other access works;”; and

by deleting the words “or (c)” in the definition of “fixed capital expenditure” and substituting the words “, (c) or (d)”.

by deleting the word “or” at the end of paragraph (b); and

by deleting the comma at the end of paragraph (c) and substituting the words “; or”, and by inserting immediately thereafter the following paragraph: —“(d)for construction operations,”.

within such period (hereinafter referred to as the qualifying period), not exceeding five years, commencing from the investment day as the Minister may determine; and

in the case of a project under paragraph (d) of subsection (1) of section 46B, during the period 1st April, 1982 and 31st March, 1987 or such later date as the Minister may, by notification in the Gazette, specify.”.