s 49 Capital expenditure incurred on plant and machinery in hotel business
(1) Where a company has been granted an approval under section 30KA of the repealed law and has incurred capital expenditure on or after the 1 January 1986 on plant and machinery or other facilities used in connection with the hotel business, the company may apply to the Minister for approval for paragraph 29(7)(iii) of this Act to apply to such capital expenditure in relation to an hotel business: Provided that such capital expenditure is incurred within five years from the date of approval granted under section 30KA of the repealed law. (2) Where the Minister grants an approval in respect of an application under subsection (1), paragraph 29(7)(iii) of this Act shall apply to such expenditure.