98. Interpretation of this Part

For the purposes of this Part, unless the context otherwise requires -

"eligible holding company", in relation to a technology company, means a company incorporated in Brunei Darussalam -

{a} which is resident in Brunei Darussalam;

{b} which holds shares in the technology company; and

{c}

in respect of which not less than 30o/o of the paid-up capital is beneficially owned by citizens or person~ to whom a Resident Permit has been granted under regulations made under the Immigration Act

(Chapter 17) throughout the whole of the qualifying period of the technology company, unless the Minister otherwise decides;

"qualifying period", in relation to a technology company, means a period of 3

years from the day it commences, for the purposes of the Income Tax Act

(Chapter 35), to carry on its relevant trade or business;

"relevant trade or business", in relation to a technology company, means the trade or business to which the certificate, issued to the company under subsection (2) of section 99, relates;

"technology company" means a company approved as a technology company under subsection (2) of section 99.

Application for and issue of certificate to technology company.