Clause 18

by deleting the words “shall commence on its commencement day and shall continue” in subsection (1) and substituting the words “for a qualifying activity commences on its commencement day of that qualifying activity and continues”;

by deleting subsection (2) and substituting the following subsection:“(2) Subject to subsection (3), the Minister may, if the Minister is satisfied that it is expedient in the public interest to do so and subject to such conditions as the Minister may impose —

where the certificate issued to a development and expansion company only specifies one qualifying activity, extend the tax relief period of the company in subsection (1) for that activity for such further period or periods, not exceeding 5 years at any one time, as the Minister may determine; or

where the certificate issued to a development and expansion company specifies more than one qualifying activity, extend the tax relief period or periods of the company in subsection (1) for one or more of those activities for such further period or periods, not exceeding 5 years at any one time, as the Minister may determine.”;

by inserting, immediately after the words “development and expansion company” in subsections (3), (3A), (3B) and (3C), the words “for a qualifying activity”;

by inserting, immediately after the words “of the company” wherever they appear in subsection (5), the words “for that qualifying activity”; and

by deleting subsection (6) and substituting the following subsection:“(6) The Minister must, in extending the tax relief period of a development and expansion company for international legal services as defined in section 19KA(3), take into account any tax relief period which it enjoyed for such services under section 19KA.”.