Development rebate on amalgamation: transferee company must satisfy reserve and non disposal conditions; balance rebate allowed with limited carryforward. Amendment requires that where an amalgamating company transfers a ship, machinery or plant for which a development rebate was allowed, the amalgamated company must continue to fulfil the reserve and non disposal period obligations and will face the same default consequences as the transferor; any outstanding balance of the development rebate is allowable to the amalgamated company under the usual carryforward mechanism subject to an overall limit on the combined carryforward period, and the amalgamated company is treated as the assessee for these purposes.