§ 1 — Short title and commencement

1.—(1) This Act is the Multinational Enterprise (Minimum Tax) Act 2024.(2) A provision of this Act does not come into operation except on a date and in the manner mentioned in subsection (3).

(3) The Minister may, from time to time, by order in the Gazette, declare that this Act or any provision thereof comes into operation on a date specified in the order, and this Act or that provision (as the case may be) comes into operation on that date and remains in force until the order is revoked by the Minister.

(4) The order must state the first financial year of an MNE group in relation to which the Act or provision (as the case may be) has effect.

(5) The Minister may, by an amendment to the order, declare that a provision of this Act that is in force because of subsection (3) ceases to be in force from (and including) a specified date.

(6) An order in subsection (3) or (5) may prescribe such provisions of a saving or transitional nature that are consequential to the coming into operation of the Act or a provision thereof, or the ceasing in force of a provision of the Act.

(7) All orders made under this section must be presented to Parliament as soon as possible after publication in the Gazette.

(8) References in subsections (2), (3) and (6) to this Act and any provision thereof —(a)

include all regulations made under section 84, or regulations made under that section that are relevant to that provision and specified in the order, as the case may be; and

(b)

exclude sections 85 and 86, which are to come into operation on a date that the Minister appoints by notification in the Gazette.

—(1) This Act is the Multinational Enterprise (Minimum Tax) Act 2024.

(2) A provision of this Act does not come into operation except on a date and in the manner mentioned in subsection (3).

(3) The Minister may, from time to time, by order in the Gazette, declare that this Act or any provision thereof comes into operation on a date specified in the order, and this Act or that provision (as the case may be) comes into operation on that date and remains in force until the order is revoked by the Minister.

(4) The order must state the first financial year of an MNE group in relation to which the Act or provision (as the case may be) has effect.

(5) The Minister may, by an amendment to the order, declare that a provision of this Act that is in force because of subsection (3) ceases to be in force from (and including) a specified date.

(6) An order in subsection (3) or (5) may prescribe such provisions of a saving or transitional nature that are consequential to the coming into operation of the Act or a provision thereof, or the ceasing in force of a provision of the Act.

(7) All orders made under this section must be presented to Parliament as soon as possible after publication in the Gazette.

(8) References in subsections (2), (3) and (6) to this Act and any provision thereof —(a)

include all regulations made under section 84, or regulations made under that section that are relevant to that provision and specified in the order, as the case may be; and

(b)

exclude sections 85 and 86, which are to come into operation on a date that the Minister appoints by notification in the Gazette.