Non-application of assessment based on gross receipts in certain circumstances
7.  The Chief Assessor may, in his discretion, determine that this Order shall not apply to the assessment of the annual value of a port facility or any part thereof —
(a)for the year following the year in which that port facility or any part thereof is demolished or ceases to be used as a port facility;
(b)where the port facility or any part thereof is, or was in the calendar year immediately preceding the year of assessment, leased out by COSCO-PSA; or
[S 879/2014 wef 01/01/2015]
(c)where the port facility or any part thereof has not been used by COSCO-PSA as a port facility.