Investment Incentives Order, 2001 · As enacted · Part XI · Investment Allowances
80. Capital expenditure investment allowance
Official textFrom Attorney General's Chambers, unchanged
( 1)
Where a company proposes to carry out a project -
company
"company" means any company incorporated or registered in accordance with the provisions of any written law relating to companies; 1307 26th.
{a}
for the manufacture or increased manufacture of any product;
manufacture
"manufacture", in relation to a product, includes any process or method used in making or developing the product;
for the provision of specialised engineering or technical services;
{c)
for research and development;
{d)
for construction operation;
{e)
for the recycling of domestic and industrial waste;
{fJ in relation to any qualifying activity as defined in section 17;
qualifying activity
"qualifying activity" means any of the following- {a} any engineering or technical services including laboratory, consultancy and research and development activities; {b) computer-based information and other computer related services; {c) the development or production of any industrial design; {d) services and activities which relate to the provision of leisure and recreation; {e) publishing services; {fJ services which relate to the provision of education; {g) medical services; {h) services and activities which relate to agricultural technology; {i} services and activities which relate to the provision of warehousing facilities; {j} services which relate to the organisation or management of exhibitions and conferences; {k} financial services; {l} business consultancy, management and professional services; {m} venture capital fund activity; {n} operation or management of any mass rapid transit system; {o} services provided by an auction house; {p} maintaining and operating a private museum; and {q} such other services or activities as the Minister may prescribe. Application for and issue and amendment of certificate for pioneer service company.
{g)
for the promotion of the tourist industry (other than a hotel) in
Brunei Darussalam, the company may apply in the prescribed form to the Minister for the approval of an investment allowance in respect of the fixed capital expenditure for the project.
Minister
"Minister" means the Minister charged with the responsibility for industrial development;
Where the Minister considers it expedient, having regard to the economic, technical and othe~, merits of the project, he may approve the project and issue the company with a certificate which shall qualify the company for an investment allowance (as stipulated in the certificate) in respect of the fixed capital expenditure for the approved project subject to such terms and conditions as he thinks fit.
fixed capital expenditure
"fixed capital expenditure" means capital expenditure to be incurred on any building (excluding land) and on any new productive equipment (and, subject to the approval of the Minister, on any secondhand productive equipment) to be used in Brunei Darussalam;
Every certificate issued under this section shall specify a date as the investment day from which the comp~ny shall be entitled to investment allowance under this Part.
The Minister may, in his discretion upon the application of a company amend its certificate by substituting for the investment day specified therein such earlier or later date as he thinks fit and thereupon the provisions of this Part shall have effect as if the date so substituted were the investment day in relation to that certificate.
1352
Terms defined in this Act
company
Defined · s 3"company" means any company incorporated or registered in accordance with the provisions of any written law relating to companies; 1307 26th.
fixed capital expenditure
Defined · s 88"fixed capital expenditure" means capital expenditure to be incurred on any building (excluding land) and on any new productive equipment (and, subject to the approval of the Minister, on any secondhand productive equipment) to be used in Brunei Darussalam;
manufacture
Defined · s 3"manufacture", in relation to a product, includes any process or method used in making or developing the product;
Minister
Defined · s 3"Minister" means the Minister charged with the responsibility for industrial development;
qualifying activity
Defined · s 17"qualifying activity" means any of the following- {a} any engineering or technical services including laboratory, consultancy and research and development activities; {b) computer-based information and other computer related services; {c) the development or production of any industrial design; {d) services and activities which relate to the provision of leisure and recreation; {e) publishing services; {fJ services which relate to the provision of education; {g) medical services; {h) services and activities which relate to agricultural technology; {i} services and activities which relate to the provision of warehousing facilities; {j} services which relate to the organisation or management of exhibitions and conferences; {k} financial services; {l} business consultancy, management and professional services; {m} venture capital fund activity; {n} operation or management of any mass rapid transit system; {o} services provided by an auction house; {p} maintaining and operating a private museum; and {q} such other services or activities as the Minister may prescribe. Application for and issue and amendment of certificate for pioneer service company.
Part XII
Part XIII