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Industrial Development (Incentives to Pioneer Industries) (Repeal) Act 1998

PAPUA NEW GUINEA

Industrial Development (Incentives to Pioneer Industries) (Repeal) Act 1998

No. 36 of 1998
Certified on: 17 DEC 1998

ARRANGEMENT OF SECTIONS.

1. Repeal.
2. Savings.

AN ACT

entitled

Industrial Development (Incentives to Pioneer Industries) (Repeal) Act 1998,

Being an Act to repeal the Industrial Development (Incentives to Pioneer Industries) Act (Chapter 119) and for related purposes.

MADE by the National Parliament to come into operation on 1 January 1999.

1. REPEAL

The following Acts are repealed:-

(a) Industrial Development (Incentives to Pioneer Industries) Act (Chapter 119); and
(b) Industrial Development (Incentives to Pioneer Industries) (Amendment) Act 1990.

2. SAVINGS

(1) A pioneer industry, in respect of which a Pioneer Certificate has been granted on or before 31 December 1998, shall, notwithstanding the provisions of Section 1, continue to be entitled to the income tax concessions provided for in Part III of the Industrial Development (Incentives to Pioneer Industries) Act (Chapter 119) (repealed) until such time as the Pioneer Certificate expires or is cancelled or otherwise expires according to law, and the Acts repealed by Section 1 are saved to the extent necessary to give effect to this provision.

(2) For the purposes of Subsection (1), "pioneer industry" and "Pioneer Certificate" have the meanings given to them in the Acts repealed by Section 1.

I hereby certify that the above is a fair print of the Industrial Development (Incentives to Pioneer Industries) (Repeal) Act 1998 which has been made by the National Parliament.

Clerk of the National Parliament.
17 DEC 1998

I hereby certify that the Industrial Development (Incentives to Pioneer Industries) (Repeal) Act 1998 was made by the National Parliament on 24 November 1998.

Speaker of the National Parliament.
17 DEC 1998