28. Section 19B of the principal Act is amended —
by inserting, immediately after subsection (10), the following subsections:
“(10A) No writing-down allowance under subsection (1) shall be made for any capital expenditure incurred by a company referred to in subsection (1) in acquiring intellectual property rights from —
its related party ––
to whom any deduction has been allowed under section 14, 14D, 14DA or 14E for any outgoing, expense or payment incurred for any activity which resulted in the creation of the intellectual property; and
whose proceeds from the sale, transfer or assignment of those intellectual property rights to the company are not chargeable to tax; or
its related party who acquired the rights, directly or indirectly, from a related party of the company referred to in paragraph (a).
(10B) The Minister may by order exempt a company from subsection (10A) in respect of such transaction as may be specified in the order.”.
by deleting the full-stop at the end of the definition of “intellectual property rights” in subsection (11) and substituting a semi-colon, and by inserting immediately thereafter the following definition: