Cap. 123 Art. 90Relief in respect of Bearer Accounts Levy. Repealed by: XXV.1960.16.

(1) If it be proved to the satisfaction of the Commissioner that any person has paid levy in any year in respect of any bearer account under the Bearer Accounts Levy Act, the tax chargeable under this Act on the interest accruing or derived from such account for that year shall be reduced by the amount of the said levy.

(2) For the purposes of the reduction granted by sub-article (1)

hereof, the interest on any bearer account shall be deemed to be the highest part of the total income for the year of assessment for which such interest is brought to charge to tax.