Notice and consequences of revocation

(1) When an approved enterprise order has been revoked the Minister shall cause a notice to that effect to be published in the Gazette and the order shall state the date on which the enterprise shall cease or shall have ceased to be an approved (2) Upon revocation the approved enterprise shall be liable to pay customs duty, stamp duty and revenue replacement duty on such of the articles, as the Minister of Finance may decide, imported by the approved enterprise free of those duties, such duties being based on the value of the articles at the date of revocation assessed by the Comptroller. (3) The duties payable under sub-section (2) may be recovered by the Comptroller in the manner provided under any law relating to customs and excise duties. (4) If the date on which the approved enterprise order ceases to be an approved enterprise does not coincide with the end of the financial year of the enterprise, then the chargeable income in respect of the financial year in which the order is revoked shall be subject to tax under the Income and Business Tax Act as if no approved enterprise order had been made in respect of that year and such tax shall be recoverable accordingly.