Clause 16
Amendment of section 14O
of Income Tax (Amendment) Bill
BillNot in forceProvision 16 of 49
Clause 16
Section 14O of the principal Act is amended —
(a)
by deleting the words “insurance company” wherever they appear in subsection (1) and in the section heading and substituting in each case the word “insurer”; and
(b)
by deleting subsection (3) and substituting the following subsection:“(3) In this section —“insurer” has the same meaning as in section 43C;“offshore risk” has the same meaning as in section 26.”.