§ Where, out of the profits of a trade or business, any contribution has been made after the 16th day of July, 1920, to any trust, society, or body of persons in the United Kingdom established solely for the purpose of the relief of the poor, or the sick, or for the advancement of education, 2866 or for scientific research, there shall, for the purposes of Excess Profits Duty, be allowed in the computation of the profits of the trade or business arising in the accounting period within which such contribution was made, a deduction in respect of such contribution of an amount not exceeding 5 per cent, of those profits as calculated for the purposes of Excess Profits Duty (before adjustment for increased or decreased capital and before making any deduction under this Section) and not exceeding 20 per cent. of the amount of such contribution.
§ This Section shall not apply to any contribution which, apart from the provisions of this Section, would be admissible as a deduction from profits for the purposes of Excess Profits Duty.—[Mr. Chamberlain.]
§ Brought up, and read the First time.
I beg to move, "That the Clause be read a Second time."
This is a Clause embodying the concession which I promised earlier in the day, and I move it, in order that it may be printed with the Bill, and that Members may have it on the Report stage.
§ Clause read a Second time, and added to the Bill.
§ Bill reported; As amended, to be considered upon Thursday next, and to be printed. [Bill 174.]
§ It being after half-past Five of the Clock, Mr. DEPUTY-SPEAKER (Mr. Whitley) adjourned the House, without Question, put, pursuant to Standing Order No. 3.
§ Adjourned at Two minutes before Six o'clock, till Monday next, 19th July, 1920.