s 26F Application for approval for investment tax allowance to high technology company or company participating in industrial linkage programme
(1) Subject to subsections (2) and (3), any company participating or intending to participate in Malaysia in a promoted activity or in the production of a promoted product in areas of new and emerging technologies or any company participating in a promoted activity or producing a promoted product in an industrial linkage programme may make an application in writing to the Minister for approval for purposes of an investment tax allowance. (2) A pioneer company or a company which has been granted pioneer status under subsection 6(1) in respect of an application under subsection 5(1) or 5(1 B ) or an approval under subsection 27(1) or 27 B(1) shall only be eligible to apply for investment tax allowance under subsection (1) in respect of a promoted activity or promoted product other than the promoted activity or promoted product for which a pioneer certificate has been issued or pioneer status or investment tax allowance has been granted. (3) Where a company has been granted pioneer status in respect of a promoted activity or promoted product, it may be eligible to apply for approval for purposes of an investment tax allowance under subsection ( 1 ) upon the surrender of the grant of pioneer status in respect of that promoted activity or promoted product: Provided that this subsection shall only apply where the Minister is satisfied with the reasons for the surrender of the pioneer status in respect of that promoted activity or promoted product. (4) An application made under subsection (1) shall be in accordance with such regulations as may be made under this Act.