83. Prohibition to sell, lease out or dispose of assets

( 1)

During its qualifying period or within 2 years after the end of its qualifying period, a company shall not, without the written approval of the

Minister, sell, lease out or otherwise dispose of any assets in respect of which an investment allowance has been given.

Where during its qualifying period or within 2 years after the end of its qualifying period, a company has sold, leased out or otherwise disposed any asset in respect of which an investment allowance has been given, an amount equal to the aggregate of the investment allowance given in respect of that asset shall be recovered.

Where that account is insuff:tcient to give full effect to the recovery, an assessment or additional assessment in respect of the amount unrecovered shall be made upon the company or any shareholder of the company and the tax exempt account, kept in accordance with section 71 (as made applicable by section 85), shall be debited accordingly.

Notwithstanding subsections (2) and (3), the Minister may waive wholly or partly the recovery of the investment allowance.