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Amendment of section 991B of Act of 1997
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9. Section 991B of the Act of 1997 is amended—
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(a) in subsection (1)—
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(i) in the definition of “Covid-19 liabilities”, by the substitution of “subsection (14)” for “subsections (14) and (15)”,
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(ii) in the definition of “Period 1”, by the substitution of the following paragraph for paragraph (b):
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“(b) ending on 31 December 2021;”,
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(iii) by the substitution of the following definition for the definition of “Period 2”:
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“‘Period 2’, in relation to an employer, means the period beginning on 1 January 2022 and ending on 31 December 2022;”,
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(iv) by the substitution of the following definition for the definition of “Period 3”:
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“‘Period 3’, in relation to an employer, means the period beginning on 1 January 2023 and ending on the day on which the employer has discharged the Covid-19 liabilities in full.”,
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and
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(v) by the deletion of the definitions of “recommencement date” and “taxable period”,
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(b) in subsection (14), by the insertion of “or annually” after “quarterly”, and
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(c) by the deletion of subsections (15) and (16).
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