Tax definition redefined and a tax credit certificate concept introduced, altering treatment of corporate holdings and distributions. Amendments to section 2 revise definitions and scope: tax is redefined to distinguish the assessment year commencing 1 April 1965 from earlier years; a tax credit certificate definition is added under Chapter XXIIB; clause (11) and clause (46) are omitted; clause (30) is amended to delete specified figures; clause (18) is expanded to include qualifying subsidiary companies and the Explanation is adjusted accordingly; and clause (22) acquires sub-clause (ia) treating distributions attributable to capitalised profits representing bonus shares allotted after 31 March 1964.