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Income Tax (People's Unit Trust Amendment) Act 2002

PAPUA NEW GUINEA

Income Tax (People's Unit Trust Amendment) Act 2002.

No. 17 of 2002.

Certified on: 10 .05.02

ARRANGEMENT OF SECTIONS.

1. Interpretation (Amendment of Section 4).
2. Interpretation (Amendment of Section 136A).

AN ACT

entitled

Income Tax (People's Unit Trust Amendment) Act 2002,

Being an Act to amend the Income Tax Act 1959,

MADE by the National Parliament to come into operation in accordance with a notice in the National Gazette by the Head of State, acting with, and in accordance with, the advice of the Minister.

1. INTERPRETATION (AMENDMENT OF SECTION 4).

Section 4(1) of the Principal Act is amended by inserting after the definition of "pearling operation" the following new definition:-

"'People's Unit Trust' means the unit trust established by the Privatization Commission to hold investments in privatized entities on behalf of Papua New Guinea residents and Local-level Governments who apply for units in the trust;".

2. INTERPRETATION (AMENDMENT OF SECTION 136A).

Section 136A of the Principal Act is amended by inserting after the words "Unit Trust" the following:-

"or "People's Unit Trust"".

I hereby certify that the above is a fair print of the Income Tax (People's Unit Trust Amendment) Act 2002 which has been made by the National Parliament.

Clerk of the National Parliament.

I hereby certify that the Income Tax (People's Unit Trust Amendment) Act 2002 was made by the National Parliament on 27 March 2002.

Speaker of the National Parliament.