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Regulation 1

of Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (Consolidation) Notification

Regulation 1

Amended byS 303/93 — 16.7.93

The following payments made by Neptune Orient Lines Ltd shall be exempt from income tax from 27th November 1992 to 28th November 2000:

(a)

the interest payable on the loan of AUD100,000,000 provided by Prevalent Pty Limited, Australia under the Term Loan Agreement dated 25th August 1992;

(b)

the swap payments on the cross-currency interest rate swap on AUD100,000,000; and

(c)

the legal, arrangement, commitment, guarantee and agency fees totalling AUD1,053,000 in connection with the loan and swap facility.

Read in full context — Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (Consolidation) Notification →