Registered firm definition revised; 'security' defined as Government security under Public Debt Act in income tax law. The amendment substitutes the statutory definition of 'registered firm' to include firms registered under the specified registration provision and those deemed to be registered under related deemed registration provisions, effective from the stated commencement date. It also inserts a new definition of 'security', specifying that 'security' means a Government security as defined in the Public Debt Act, thereby harmonising terminology between the Income tax Act and the Public Debt Act.
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Provisions expressly mentioned in the judgment/order text.
Registered firm definition revised; 'security' defined as Government security under Public Debt Act in income tax law.
The amendment substitutes the statutory definition of "registered firm" to include firms registered under the specified registration provision and those deemed to be registered under related deemed registration provisions, effective from the stated commencement date. It also inserts a new definition of "security", specifying that "security" means a Government security as defined in the Public Debt Act, thereby harmonising terminology between the Income tax Act and the Public Debt Act.
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