60A. Application by an insurance company or approval by the Board for exemption of investments by an assessee not being a company

60A. Application by an insurance company or approval by the Board for exemption of investments by an assessee not being a company.---      
(1)  A company or a body corporate desiring to be declared as a company engaged in or formed for the purpose of carrying on the business of life insurance or general insurance in Bangladesh within the meaning of paragraph 8 of Part B of THE SIXTH SCHEDULE to the Ordinance shall make an application to the Board duly filled in the form given hereunder:-
Form of Application for Approval under paragraph 8 of Part B of THE SIXTH
          SCHEDULE to the Income Tax Ordinance, 1984 (XXXVI of 1984) (1)  Name of the Company :
(2)  Location of its registered office:
(3)  Date of incorporation :
(4) Date of commencement of :
business, if any
(5) Nature of business :
(6) Where it is a public company as :
defined by the Companies Act, 1913 (VII of 1913) and listed in a Stock Exchange
(7) Whether it is a subsidiary : company of a company falling within the description of item (6)  above, and if so-
 

(i) whether the whole of its share capital is held by the parent company:
(ii) whether the whole of the share capital is held by the nominees of the parent company: (iii)the name(s) and address(es) of the parent company or the nominees thereof, as the case may be:
 

(8) Whether the approval of the: Government has been obtained to the capital issue; if so, the amount permitted to be issued:
(9) Authorised share capital of the: company and classes of shares and their value:
(10) The amount of share capital: issued or proposed to be issued and the classes of shares and their value:

Date:………………………
Signature of      the
Managing Director/Director
                                                        Verification

I,…………  …………………..,do hereby solemnly affirm that the information given above is
                                                                                                correct and complete.
Date…………………………..                                                          Signature of  the
Managing Director/Director

*Delete whichever is inapplicable.

(2) The application shall be accompanied by the following documents, namely-
 

(a) Certificate of incorporation, with an attested copy thereof; (b) Certificate of the commencement of business, if any, with an attested copy thereof;
(c) An attested copy of the Memorandum and Articles of Association;
(d) An attested copy of the letter from the Government authorising the issues of the capital;
(e) In the case of the company that has already commenced business Gertified copies of the audited balance sheets and profit and loss accounts for the three years (or any lesser period for which the accounts have been prepared); and
(f)  The  names  and  address  of  the  Managing  Director  and  other  Directors  and  their shareholdings.
(3} On receipt of the application under sub-rule (1), the Board may make such enquiries and call for further information as it may deem necessary.
(4) If the Board is satisfied that the company should be
declared as an approved industrial undertaking within the meaning of paragraph 8 of Part B of THE SIXTH SCHEDULE to the Ordinance, it shall make an prder to the effect and send a copy thereof to the company.

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