32. Section 37C of the principal Act is amended —
by deleting the word “and” at the end of subsection (15)(c);
by deleting the full-stop at the end of paragraph (d) of subsection (15) and substituting the word “; and”, and by inserting immediately thereafter the following paragraphs:
any company, in respect of qualifying deductions under subsection (14)(b) relating to any loss arising from any unutilised deduction under section 14Q; and
any qualifying start-up company, in respect of qualifying deductions under subsection (14)(b) relating to any loss incurred by the company for which any cash grant is given under section 37H.”;
by inserting, immediately after the words “deducting any” in the definition of “assessable income” in subsection (19), the words “deduction allowed under section 37G and”; and
by inserting, immediately after the definition of ordinary share
“ “qualifying start-up company” has the same meaning as in section 37H;”.