12. Amendment of section 32EEEEE of the principal enactment

Section 32EEEEE of the principal enactment is hereby amended in paragraph (b) of sub-section (3) of that section by the substitution for all the words from “is not less than three hundred to the end of that paragraph of the following :––

“is not less than three hundred, the deduction referred to in sub-section (1), shall apply to that company for the year of assessment commencing on April 1, 1997, as an amount equal to two and one half per centum of such part.”.