(1) In this section -
"exempted income" means income in respect of which a company has obtained relief under -
(a) the Finance (Profits of Certain Mines) (Temporary Relief from Taxation) Act, 1956, or
(b) Chapter II (Profits of Certain Mines) of Part XXV of the Income Tax Act, 1967;
"other income" means income of a company which is not exempted income.
(2) Subject to section 817X, where a distribution for an accounting period is made by a company wholly out of exempted income, the distribution shall not be regarded as income for any purpose of the Income Tax Acts.
(3) Where a distribution for an accounting period is made by a company in part out of exempted income and in part out of other income, the distribution shall be treated as if it consisted of 2 distributions respectively made out of exempted income and other income, and subsection (2) shall apply to such part of the distribution as is made out of exempted income as it applies to a distribution made wholly out of exempted incom
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