No. 21. Income Tax. 1967.


 (1) the income of any approved Pension or Superannua-
 tion Scheme;
 (m) the income arising from investments of any fund or
 scheme approved by the Administrator in Coun-
 cil under section 34;
 (n) income arising from a scholarship held by a person
 receiving full time instruction at a university, col-
 lege, school or other educational establishment. The
 expression "scholarship" includes any exhibition,
 bursary or any other simliar educational endow-
 ment;
 (o) income arising from the business of shipping carried
 on by a person not resident in the Colony provided
 that the Comptroller is satisfied that an equivalent
 exemption from income tax is granted by the country
 in which such person is resident to persons resident
 in the Colony and, if that country is a country other
 than the United Kingdom, to persons resident in the
 United Kingdom.
 The expression "business of shipping" herein
 means the business carried on by an owner of ships,
 and for the purposes of this definition the expression
 "owner" includes charterer.
 For the purposes of this part of this section a
 company shall be deemed to be resident in the coun-
 try in which the central management and control of
 its business is situate:
 Provided that nothing in this section shall be con-
 strued to exempt in the hands of the recipients any
 dividends, interests, bonuses, salaries or wages paid
 wholly or in part out of the income so exempted.
 (p) the official residence of the Chief Minister.
 (q) Non-pensionable inducement allowances paid or
 payable, on or after such date as the Administrator
 in Council may notify by Notice in the Gazette, to
 designated officers under the Overseas Service Aid
 Scheme.
 Government 6. The Administrator in Council may by Order published
 loans. in the Gazette provide that the interest payable on any loan
 charged on the public revenue of the Colony shall be exempted
 from the tax, either generally or only in respect of interest pay-
 able to persons not resident in the Colony; and such interest