Income Taa.


shall as from the date and to the extent specified in the Order
be exempt accordingly.

 7. (1) Notwithstanding anything to the contrary con-
tained in this Ordinance, in any case approved by the Adminis-
trator in Council where a licence has been granted to any person
under section 3 of the Hotels Aids Ordinance, 1954, the income
arising from the hotel to which such licence relates in each of
the ten years of assessment next after the year of assessment
in which the licence is granted (hereinafter called "the tax
holiday period") shall be exempt from income tax: Provided
that if the end of the tax holiday period does not coincide with
the end of an accounting period of the enterprise, the income
for the accounting period in which the last day of the tax holi-
day period falls shall be apportioned between the parts of the
said accounting period which respectively precede and follow
the end of the tax holiday period and the income thus attributed
to the part which precedes the end of the tax holiday period
shall be exempt from income tax.
 (2) A proprietor of an hotel to which a licence under
section 3 of the Hotels Aids Ordinance, 1954, relates, being a
company limited by shares within the meaning of the Companies
Ordinance, shall be entitled to distribute a sum equal to the
income arising during the tax holiday period from such hotel,
t, the members of the company and every such sum shall be
exempt from the payment of income tax in the hands of such
members.
 (3) In this Ordinance unless the context otherwise re-
quires-
 "hotel" means any building or group of buildings
 containing or intended to contain when complete
 not less than ten bedrooms for the accommodation
 for reward of guests and includes the curtilage
 thereof and all structures within such curtilage,
 or any other building or group of buildings ac-
 cepted by the Administrator in Council to fill the
 purposes of a hotel;
 "licence" means a licence under section 3 of the Hotels
 Aids Ordinance, 1954;
 (4) The income arising from any pioneer enterprise dur-
 ing the period of ten years from the production day or from
 such other day as may be substituted therefore by the Adminis-


Relief to hotel
proprietors
from income
tax.
No. 45 of 1954.












No. 45 of 1954.


1967.


No. 21.