Long Title

Enacting Formula

Amendment of section 43W
44.  Section 43W of the principal Act is amended —
(a)
by deleting the words “Approval may be granted under this section” in subsection (4) and substituting the words “Approval of a shipping investment manager under this section may be granted”; and
(b)
by inserting, immediately after subsection (4), the following subsection:
“(4A)  Approval of a shipping investment manager under this section may be granted between 1st March 2011 and 31st March 2016 for such period not exceeding 5 years as the Minister may specify, except that the Minister may extend the period so specified for such further periods as he thinks fit.”.