Where a qualifying person incurs capital “(8A) expenditure during the basis period for the year of assessment 2016 or a subsequent year of assessment on the provision of any PIC automation equipment, he shall only be allowed to make an election under subsection (1) or (4A) in respect of that expenditure if he proves to the satisfaction of the Comptroller that the PIC automation equipment is in use for the purposes of his trade, profession or business. (8B) The Comptroller may, subject to such conditions as he may impose, waive the application of subsection (8A) if he is satisfied that there is a reasonable cause for the PIC automation equipment not being in use for the purposes of the person’s trade, profession or business.”; (j) by deleting the (2)” in subsection (14) and “or substituting the words (2) or (10)”; “, (k) by deleting the words 14A(1A) or (1B), 14DA(2), “section 14R, 14S, 14T, 14W, 19A(2A) or (2B) or 19B(1A) or (1B)” in subsection (14A) and substituting the words 14A(1A), (1B) or (1BA), 14DA(2), 14R, 14S, 14T, “section 14W, 19A(2A), (2B) or (2BAA) or 19B(1A), (1B) or (1BAA)”; (l) by inserting, immediately the definition of price” “cash in subsection (21), the following definitions: hirer”, in relation to a central hiring “ “central arrangement for a group of related parties, means the person who carries out human resource functions for those parties under the arrangement; hiring arrangement” an arrangement for “central a group of related parties entered into for a bona commercial reason, where the human fide resource functions of the parties in the group are carried out by a single person;”; (m) by inserting, immediately after the definition of “local employee” in subsection (21), the following definition:
“(8A) Where a qualifying person incurs capital expenditure during the basis period for the year of assessment 2016 or a subsequent year of assessment on the provision of any PIC automation equipment, he shall only be allowed to make an election under subsection (1) or (4A) in respect of that expenditure if he proves to the satisfaction of the Comptroller that the PIC automation equipment is in use for the purposes of his trade, profession or business. (8B) The Comptroller may, subject to such conditions as he may impose, waive the application of subsection (8A) if he is satisfied that there is a reasonable cause for the PIC automation equipment not being in use for the purposes of the person’s trade, profession or business.”; (j) by deleting the “or (2)” in subsection (14) and substituting the words “, (2) or (10)”; (k) by deleting the words “section 14A(1A) or (1B), 14DA(2), 14R, 14S, 14T, 14W, 19A(2A) or (2B) or 19B(1A) or (1B)” in subsection (14A) and substituting the words “section 14A(1A), (1B) or (1BA), 14DA(2), 14R, 14S, 14T, 14W, 19A(2A), (2B) or (2BAA) or 19B(1A), (1B) or (1BAA)”; (l) by inserting, immediately the definition of “cash price” in subsection (21), the following definitions: “ “central hirer”, in relation to a central hiring arrangement for a group of related parties, means the person who carries out human resource functions for those parties under the arrangement; “central hiring arrangement” an arrangement for a group of related parties entered into for a bona fide commercial reason, where the human resource functions of the parties in the group are carried out by a single person;”; (m) by inserting, immediately after the definition of “local employee” in subsection (21), the following definition:
2014_ITA_Clause2to72.docx