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Amendment of section 503 (claims) of Principal Act.
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29.— (1) Section 503 of the Principal Act is amended by substituting the following for subsection (1):
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“(1) A claim for the relief in respect of eligible shares issued by a company in any year of assessment shall be made—
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(a) not earlier than—
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(i) in the case of a relevant investment, the date on which the company commences to carry on the relevant trading operations, and
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(ii) in any other case, the end of the period of 4 months mentioned in section 489(7)(a)(i)(II),
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and
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(b) not later than—
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(i) 2 years after the end of that year of assessment or, if that period of 4 months mentioned in section 489(7)(a)(i)(II) ended after the end of that year, 2 years after the end of that 4 month period, whichever last occurs, or
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(ii) 3 months after the date the statement referred to in subsection (3) is furnished, where such statement is furnished within the 3 months prior to the expiry of the time specified in subparagraph (i).”.
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(2) Subsection (1) applies and has effect as on and from 1 January 2009.
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