FIRST SCHEDULE TO INCOME TAX ORDINANCE (Addition of Port Swettenham and Malacca Mercantile Marine Funds)

The Financial Secretary (Mr T. M. Hart): Mr Speaker, Sir, I beg to move,

That this Assembly, pursuant to subsection (1) of section 106 of the Income Tax Ordinance (Chapter 166), resolves that the Port Swettenham and Malacca Mercantile Marine Funds be added to the First Schedule to the said Ordinance.

This application has been received from the Port Swettenham and Malacca Mercantile Marine Funds under section 13 (1) (e) of the Income Tax Ordinance. Exemption is effected by the inclusion of the name of this public body in the First Schedule to the Ordinance.

The objects of the Port Swettenham and Malacca Mercantile Marine Funds are, inter alia, to establish and maintain homes or institutions for members of the Mercantile Marine, to look after their welfare generally by providing medical and surgical treatment, education in nautical subjects, and the granting of relief to members and their dependants. Each of these funds is administered by a committee appointed by the High Commissioner. Under section 467 of the Merchant Shipping Ordinance, 1952 (No. 70 of 1952) of the Federation of Malaya, all fees derived from levies in respect of working cargoes on Sundays are to be paid into the Port Swettenham and Malacca Marine Funds. The Penang Mercantile Marine Fund, which is subject to exactly the same provisions of the Ordinance as the Port Swettenham and Malacca Marine Funds, has already been included in the First Schedule.

The Malayan Board of Income Tax has considered this case and has recommended that the Port Swettenham and Malacca Marine Funds may properly be included in the First Schedule to the Ordinance with effect from the 1st of January, 1956, and the Government accepts its recommendation. Sir, I beg to move.

Mr Chew Swee Kee: I second the motion.

Question put, and agreed to.

Resolved,

That this Assembly, pursuant to subsection (1) of section 106 of the Income Tax Ordinance (Chapter 166), resolves that the Port Swettenham and Malacca Mercantile Marine Funds be added to the First Schedule to the said Ordinance.