Tax exemption for retrenchment compensation limited and subject to approved schemes; interest exemption for foreign central bank deposits added. Amendments limit the retrenchment compensation exemption to the lesser of the Industrial Disputes Act formula or a monetary ceiling, excepting compensation paid under Central Government-approved protective schemes; add an exemption for interest payable to foreign central banks on deposits placed, with Reserve Bank approval, in scheduled banks and reference the scheduled bank definition; and substitute a later effective commencement date for a related provision.