31. Amendment of section 137 of the principal enactment

Section 137 of the principal enactment as last amended by the Act, No. 8 of 2014 is hereby further amended by the addition immediately after subsection (3) of that section, of the following new subsection:-

“(4)

Any balance amount of notional tax credit entitled to be claimed by any business of insurance prior to segregation, or any bank, financial institution or leasing company which is acquired, merged or amalgamated, as the case may be, shall notwithstanding any other provisions of this Act , be deemed to be an allowable deduction subject to the conditions, if it would have been claimable if not for such segregation (being a business of an insurance), or acquisition, merger or amalgamation of such bank, financial institution or leasing company.”.