14. Section 19 of the principal enactment is hereby section 19 of the amended as follows:—

“debit” for the words “current account” wherever such words appear in that definition, of the words

“current account or savings account” and for the words “commercial bank” of the words “commercial bank or specialised bank”: and

“savings account” of the following definition :—

“savings account” means any account (other than a foreign currency account or a fixed or term deposit account) which is maintained ata licensed commercial bank or a licensed specialised bank, and which qualifies for interest, irrespective of whether such interest is paid or not.”.

Debits Tax (Amendment) Act, No. S of 2003 1

1S.

Retrospective effect

The amendments made to the principal enactment by the provisions of this Act shall be deemed for all purposes to have come into effect on January 1, 2003,