I move:
That provision be made in the Act giving effect to this Resolution—
(a) so as to amend sections 470 and 474 of the Income Tax Act, 1967 (No. 6 of 1967), which provides for the issue of certain securities with exemption from tax in the manner and to the extent specified in the Act, and
(b) that, notwithstanding subsection (5) of section 16 or subsection (3) of section 18 to the Corporation Tax Act, 1976 (No. 7 of 1976), relief for losses arising from trading in such securities issued with the conditions mentioned in sections 470 and 474 of the Income Tax Act, 1967 (No. 6 of 1967), to a company carrying on a trade through a branch or agency shall not be set-off against trading income or profits of accounting periods after 15 May, 1992.