Section 14
Section 14
(a)
declare any manufactured product or class of manufactured product to be a priority manufactured product or priority manufactured products, or any industry to be a priority industry;
(b)
specify a required percentage of Brunei
Darussalam content to be incorporated into a manufactured product.
(2)
Subject to the following subsections, the Board shall direct that the tax relief period of a pioneer company (or
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any extension thereof directed under section 13(2)) shall be extended (or, as the case may be, further extended) by one year if it is satisfied that, by the end of the year following the end of the tax relief period or extended tax relief period, the company —
(a)
has a pioneer factory in operation;
(b)
produces in marketable quantities any priority manufactured product or products declared under that subsection or has established any priority industry so declared;
(c)
incorporates in its manufactured products (if any) the required percentage of Brunei Darussalam content as specified under that subsection.
(3)
Subject to subsection (4), more than one extension may be given at a time under subsection (2) if the Board is satisfied that the conditions appropriate to each such extension are fulfilled.
(4)
The total of all extension given under subsection (2)
shall in no case exceed 3 years.
(5)
Any application for an extension under subsection
(2)
shall be made in writing to the Board.
Old and new business.