§ Sub-section (2) of Section forty-seven of the Income Tax Act, 1918 (which provides for relief from Income Tax in the case of certain War Savings Certificates), shall have effect as 298 though "any Act" were substituted for" section forty-one of the Finance Act, 1918." — [Mr. Chamberlain.]
§ Brought up, and read the first time.
I beg to move,That the Claim be read a second time.This Clause is consequential on a promise by my predecessor that any holder of War Savings Certificates for five years who desired to extend the period to ten years, should be allowed to do so, and this Clause is to give the same Income Tax relief for the additional five years as he 299 enjoys in respect of the first five years. Of course, I need not add that the extension of the time is optional on the part of the holder of the certificates. If he wishes to be paid off at the end of the five years he will be paid off.
§ Clause accordingly read a second time, and added to the Bill.