—(1) Where a company proposes to carry out a project —
for the manufacture or increased manufacture of any product;
for the provision of specialised engineering or technical services;
for research and development;
for construction operations;
for reducing the consumption of water;
[Act 36/96 wef Y/A 1997 & Subsequent Ys/A]
in relation to any qualifying activity as defined in section 16;
for the promotion of the tourist industry (other than a hotel) in Singapore ,
the company may apply in the prescribed form to the Minister for the approval of an investment allowance in respect of the fixed capital expenditure for the project.
(2) Where the Minister considers it expedient, having regard to the economic, technical and other merits of the project, he may approve the project and issue the company with a certificate which shall qualify the company for an investment allowance as stipulated in the certificate in respect of the fixed capital expenditure for the approved project subject to such terms and conditions as he thinks fit.
(3) Every certificate issued under this section shall specify a date as the investment day from which the company shall be entitled to investment allowance under this Part.
(4) The Minister may, in his discretion, upon the application of a company amend its certificate by substituting for the investment day specified therein such earlier or later date as he thinks fit and thereupon the provisions of this Part shall have effect as if the date so substituted were the investment day in relation to that certificate.