Regulation 7

Where an application for remission of tax in respect of any vacant port land under paragraph 6 is not made within the specified time, the period of remission of tax in respect of the vacant port land shall not include a period equivalent to the period of delay, unless the Comptroller has allowed an extension of time for the application under sub-paragraph (2).

The Comptroller may, in his discretion, allow an extension of time within which the application for remission is to be made, in which case the remission shall have effect for the period referred to in paragraph 5.

In this paragraph, “period of delay” means the period commencing on the day immediately after the expiry of the specified period for an application to be made under paragraph 6, and ending on the day on which the Comptroller receives the application.