Clause 11
Amendment of section 13H
of Income Tax (Amendment) Bill
BillNot in forceProvision 11 of 48
Clause 11
Section 13H of the principal Act is amended —
(a)
by deleting subsection (2C) and substituting the following subsections:“(2C) The Minister or such person as the Minister may appoint may, subject to such conditions as the Minister or person may impose, approve a venture company as an approved venture company for the purposes of this section.
(2D)
No approval may be granted to a venture company on or after 1 April 2020.”; and
(b)
by deleting the definition of “approved” in subsection (18).