Cap. 542 Art. 35Tax exemption. Cap. 123.

(1) Notwithstanding any provisions of the Income Tax Act or of any other applicable fiscal law, awards and grants in terms of programmes that may be developed by the Council to give effect to its powers and duties under this Act and received by any beneficiary, shall be exempt from tax:

Provided that such awards and grants do not take the form of income substitution.

(2) The Minister may make regulations to lay down the conditions relating to accounting, record keeping and reporting by the Council for the enjoyment of the exemption stated in the preceding sub-article.