Modification of sections 37I and 37IA in their application to partnership
37IB.—(1)  A reference to a qualifying person in section 37I (including the person who has to satisfy the conditions for a cash payout), and a reference to an eligible person in section 37IA (including the person who has to satisfy the conditions for the PIC bonus) shall in each case, where the person is a partnership, be a reference to the partnership; except that a reference in those sections to any deduction or allowance that may be allowed or made to a qualifying person or an eligible person under a provision of this Act, is a reference to such deduction or allowance that may be allowed or made to all of the partners of the partnership.
[19/2013]
(2)  In subsection (1) —
“cash payout” means a payment under section 37I;
“PIC bonus” means a payment under section 37IA.
[19/2013]