him during the year immediately preceding the year of assess-
ment in respect of such insurance premium or contribution as
aforesaid:
 Provided-
 (i) that in the case of a policy securing a capi-
 tal sum on death (whether in conjunction
 with any other benefit or not) the amount
 of the deduction allowed shall not exceed
 seven per centum of the actual capital sum
 assured, in respect of any premium paid on or
 after 1st January, 1967 and in calculating any
 ,such capital sum, no account shall be taken of any
 sum payable on the happening of any other con-
 tingency, or the value of any premium agreed to
 be returned, or on any benefit by way of bonus,
 or otherwise, which is to be or may be received
 either before or after death, either by the person
 paying the premium, or by any other person, and
 which is not the sum actually assured;
 (ii) that no such deduction shall be allowed in respect
 of any such annual amount of premium or. con-
 tribution beyond an amount equal to one-sixth
 part of the chargeable income of such person esti-
 mated in accordance with the provisions of this
 Ordinance before making the deductions specified
 in this section and in sections 28, 29, 30, 32
 and 33.


 35. In ascertaining the chargeable income of any person
there shall be allowed as a deduction, any amount paid by such
person during the year preceding the year of assessment under
a covenant entered into by such person for not less than five
years such payment being-
 (a) in support of any body of persons or trust established
 within the Colony exclusively-
 (i) for charitable, religious, educational or
 scientific purposes of a public nature within
 the Colony, or
 (ii) for charitable, religious, educational or
 scientific purposes of a public nature which
 being without the Colony, are approved by
 the Administrator in Council for the purpose
 of this paragraph;


Annual sums to
charities etc.


Income Tax.


1967.


No. 21.