Business Promotion (Amendment) Regulations, 2005

L.N. 67 of 2005

BUSINESS PROMOTION ACT

(CAP. 325)

Business Promotion (Amendment) Regulations, 2005

IN exercise of the powers conferred upon him by article 59 of the

Business Promotion Act, hereinafter referred to as “the Act”, the Minister

for Investment, Industry and Information Technology has made the

following regulations>-

(1) The title of these regulations is the Business Promotion

(Amendment) Regulations, 2005, and they shall be read and construed

as one with the Business Promotion Regulations, 2001, hereinafter

referred to as “the principal regulations”.

(2) These regulations shall be deemed to have come into

force on the 1 st March, 2005.

The definition “qualifying expenditure” in regulation 2 of the

principal regulations shall be amended as follows>

(a) for paragraph (a) thereof there shall be substituted the

following>

“(a) incurred in acquiring, developing or constructing

tangible fixed assets consisting of>

(i) land, industrial buildings or structures,

including warehouses and offices within an industrial

building or structure, but excluding showrooms< or

(ii) plant and machinery, including computer

hardware and software and air conditioning systems, (but

excluding non- commercial vehicles) and also including

office furniture and fittings or commercial vehicles as

may be certified by the Corporation as essential for the

implementation of a qualifying investment project<”< and

(b) for the words “where the investment project in respect

of which the expenditure has been incurred”, there shall be

substituted the words “where the tangible or intangible assets in

respect of which the expenditure has been incurred”.

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press