This Act makes several amendments in the Principal Act, such as in Section 29 regarding the expiration of all existing incentives and concessions granted under this Act on, or before, the date on which the principal Act comes into force; Section 34 regarding the obligation of the registered foreign enterprises for annual filing of information; Section 35B regarding the investigation by the Board; and Section 41 regarding regulations to give full effect to the purposes or provisions of the principal Act.
This Act repeals section 27(3)(c) on the Investment Code including incentives and concessions available to encourage investment either generally or in respect of particular investments; Sections 30 and 31 on the registration of foreign enterprise and incentives and concessions; and Section 33 on variation, suspension, and revocation of concessions.