Section 17
Section 17
(a)
any sums payable to a pioneer company in any accounting period which, but for this Act, might reasonably and properly have been expected to have been payable in the normal course of business after the end of that period shall be treated —
(i)
as not having been payable in that period but as having been payable on such date after that period as the Board thinks fit;
(ii)
where that date is after the end of the tax relief period of the pioneer company, as having been so payable on that date as a
Cap. 35.
Investment Incentives 24
sum payable in respect of its new business;
(b)
any expense incurred by a pioneer company within one year after the end of its tax relief period which, but for this Act, might reasonably and properly have been expected to have been incurred in the normal course of business during its tax relief period shall be treated as not having been incurred within that year but as having been incurred —
(i)
for the purposes of its old business;
(ii)
on such a date during its tax relief period as the Collector thinks fit.
(2)
Where a direction has been given under this section with respect to a pioneer company and thereafter the length of the tax relief period of the pioneer company is varied under this
Act, the Board may amend the direction accordingly.
Capital allowance.