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Application for and issue and amendment of certificate for pioneer service company

Economic Expansion Incentives (Relief from Income Tax) Act 1967

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—(1) Where a company is engaged in or desires to engage in any qualifying activity, the company may apply in the prescribed form to the Minister for approval as a pioneer service company for that qualifying activity.(2) A company may make an application under subsection (1) to be approved as a pioneer service company for more than one qualifying activity which it is engaged in or desires to engage in.(3) The Minister may, if he or she considers it expedient in the public interest to do so, approve the company as a pioneer service company for the qualifying activity and issue to that company a certificate subject to such conditions as the Minister thinks fit.(4) No company may be approved as a pioneer service company on or after 1 January 2024.(5) Every certificate issued under this section to a pioneer service company must be in respect of a qualifying activity and must specify —(a)the qualifying activity; and(b)a date as the commencement day of the qualifying activity.(6) Where the Minister approves a company as a pioneer service company for 2 or more qualifying activities, the Minister may issue a single certificate in respect of those qualifying activities if —(a)the tax relief periods of the pioneer service company for all the qualifying activities, as determined by the Minister under section 6 (as applied by section 18), expire on the same day; and(b)the Minister is satisfied that the pioneer service company is engaged in or desires to engage in all the qualifying activities as part of the same project.(7) The Minister may, upon the application of any pioneer service company, amend a certificate issued to the company —(a)by substituting for the commencement day of a qualifying activity specified in the certificate under subsection (5)(b) such earlier or later date as the Minister thinks fit, and upon such substitution the provisions of this Act have effect as if the date so substituted were the company’s commencement day of that qualifying activity; (b)by removing any qualifying activity from the certificate with effect from a date determined by the Minister; or(c)by adding to the certificate any qualifying activity and a date as its commencement day, if —(i)the tax relief period for the qualifying activity expires on the same day as the tax relief period or periods for the other qualifying activity or activities already specified in the certificate; and(ii)the Minister is satisfied that the pioneer service company is engaged in or desires to engage in the qualifying activity and the other qualifying activity or activities already specified in the certificate as part of the same project.(8) Without affecting section 61, the Minister may, on the Minister’s own initiative, remove any qualifying activity from a certificate with effect from a date determined by the Minister, if the Minister is satisfied that the pioneer service company has contravened —(a)any provision of this Act; or(b)any condition of its approval as a pioneer service company.

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