25. Amendment of section 59D of the principal enactment

Section 59D of the principal enactment is hereby amended in subsection (1) of that section, by the substitution for the words “holding of its shares by the general public.”, of the following words and figures:-

“holding of its shares by the general public:

Provided however, where any company lists its shares in the aforesaid manner, on or before April 1,

2017 and which is liable to pay income tax at the rate specified in item 3 of PART-B of Second Schedule to this Act, such rate shall be reduced by fifty per centum for the year of assessment in which such shares are listed and for another two years of assessment immediately succeeding that year of assessment subject such company after listing continues to maintain not less than twenty per centum of holding of its shares by the general public.”.