Finance (Taxation of Profits of Certain Mines) Act, 1974

Amendment of section 389 of Act of 1967.

14.—Section 389 of the Act of 1967 is hereby amended, in respect of companies that commenced or commence to trade in relation to a qualifying mine whether before, on or after the 6th day of April, 1974, by the substitution of “5th day of April, 1974” for “expiration of the twenty-first year” in both places where it occurs and the said section 389, as so amended, is set out in the Table to this section.


389. This Chapter shall not have effect for the purpose of income tax in relation to any year of assessment beginning after the 5th day of April, 1974, but this provision shall not prevent section 387 from applying to a dividend paid after the 5th day of April, 1974, in a case in which the whole or part of the dividend is paid out of the profits of a period wholly or partly within the exemption period.