s 1 Short title, construction and commencement
(1) This Act may be cited as the Promotion of Investments Act 1986. (2) Subject to section 2, this Act shall be read and construed as one with the Income Tax Act 1967 [Act 53] (hereinafter referred to as the “principal Act”). (3) This Act shall be deemed to have come into force on the 1 January 1986 and shall have effect for the year of assessment 1987 and subsequent years of assessment: Provided that where approval in respect of any application, whether made before or after the commencement of this Act, is granted under this Act retrospectively from a date prior to the 1 January 1986, this Act shall have effect from such date. (4) Notwithstanding subsection (3), sections 36 and 39 shall have effect only in respect of manufactured products and agricultural produce exported on or after the 1 January 1986.