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Provisions in relation to income tax chargeable on the Company.
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51.—(1) The Company shall, on and after the establishment date, continue to be liable under the Income Tax Acts to prepare and deliver any statement, return or particulars required for the purposes of those Acts for any year of assessment ending on or before the 5th day of April next following the establishment date.
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(2) Assessments to income tax for any year of assessment ending on or before the 5th day of April next following the establishment date may be made on the Company on or after the establishment date, and income tax in respect of any such assessment so made, which shall have become final and conclusive, shall, when it becomes due and payable, be deemed to have become due and payable before the establishment date.
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(3) For the purposes of subsections (1) and (2) the secretary of the Board or other officer performing the duties of secretary of the Board shall be deemed to be secretary of the Company or other officer performing the duties of secretary of the Company.
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(4) The Board shall be and is hereby empowered to deduct out of the emoluments of any person holding an office or employment of profit under the Board any income tax charged on the Company in respect of any office or employment of profit held by such person under the Company.
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(5) For the purposes of this section but not further or otherwise the Company shall be deemed to continue in existence on and after the date of dissolution under section 49.
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