| Deduction for special reserve of approved general insurance company |
| Deduction for special reserve of approved general insurance company |
| 14O.—(1) The Minister may by regulations provide that, for the purpose of ascertaining the income of a general insurance company approved by the Minister or such person as he may appoint from carrying on the business of insuring and reinsuring offshore risks, there shall be allowed for a period of 10 years a deduction for the prescribed amount of special reserves set aside by the approved general insurance company for prescribed offshore risks. [37/2002]
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