Investment Incentives Order, 2001 · As enacted · Part XII
Section 89
Official textFrom Attorney General's Chambers, unchanged
Any company intending to incur fixed capital expenditure of not less than $2 million for-
company
"company" means any company incorporated or registered in accordance with the provisions of any written law relating to companies; 1307 26th.
the establishment or improvement of warehousing facilities wholly or mainly for the storage and distribution of manufacture goods to be sold and exported by the company, with or without processing or the provision of related services; or 1356
fbi the purpose of providing technical or engineering services !or such other services as the Minister may, by notification in the Gazette, specify) wholly or mainly to persons not resident in Brunei
Darussalam, may apply in the prescribed form to the Minister for approval as a warehousing company or a servicing company.
12)
Where the Minister considers it expedient in the public interest to do so, he may approve the application and issue a certifi.cate to the company subject to such terms and conditions as he thinks fit.
Every certificate issued under this section shall specify-fa} a date as the commencement day from which the company shall be entitled to tax relief under this Part; and fbJ the eligible goods or services for the purpose of tax relief under this Part.
commencement day
"commencement day", in relation to a pioneer service company, means the date specified under subsection (3) or (4) of section 18 in the certificate issued to that company under that section;
The Minister may, in his discretion, upon the application of a warehousing company or a servicing company, amend its certificate by substituting for the commencement day specifi.ed 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 commencement day in relation to that certifi.cate.
Minister
"Minister" means the Minister charged with the responsibility for industrial development;
Th.x rellef period of warehousing company or servicing company.
warehousing company
"warehousing company" means a company which has been approved as a warehousing company under section 89. Approved warehousing company or servici~g company.
Terms defined in this Act
commencement day
Defined · s 17"commencement day", in relation to a pioneer service company, means the date specified under subsection (3) or (4) of section 18 in the certificate issued to that company under that section;
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.
eligible goods or services
Defined · s 88"eligible goods or services", in relation to a warehousing company or a servicing company, means the eligible goods or services specified in the certificate issued to that company under subsection (3) of section 89; n export earnings u means - {a) in relation to a warehousing company, the consideration received or receivable from export sales free on board of eligible goods (including the provision of services connected with or related to such sales) or the commissions received or receivable therefrom; and (b) in relation to a servicing company, the consideration received or receivable from the provision of eligible services to persons outside Brunei Darussalam who are not resident in Brunei Darussalam.
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;
servicing company
Defined · s 88"servicing company" means a company which has been approved as a servicing company und~r section 89;
warehousing company
Defined · s 88"warehousing company" means a company which has been approved as a warehousing company under section 89. Approved warehousing company or servici~g company.
Part XIII