Preamble, The Tonkolili Supple- Short title, A R

2132 Cap. 204] Tonkolili Agreement (1947) CHAPTER 204. TONKOLILI SUPPLEMENTARY AGREEMENTS (1947) RATIFICATION. 16 of 1948. An Ordinance to Ratify and Confirm Certain Agreements Supplementary to An Agreement Made Between the Crown Agents for the Colonies on behalf of the Government of Sierra Leone and the Sierra Leone Development Company Limited Regulating the Mining of the Iron Ore Deposits and other Minerals and Metals in the Tonkolili Area of the Protectorate. Cap. 202. Cap. 203. (3RD DECEMBER, 1947.] WHEREAS an Agreement was made on the sixteenth day of April, 1937, between the Crown Agents for the Colonies on behalf of the Government of Sierra Leone (hereinafter referred to as" the Government") of the one part and the Sierra Leone Development Company, Limited (hereinafter referred to as "the Company") of the other part which Agreement was set out in the Schedule to an Ordinance shortly entitled the Tonkolili Agreement Ordinance (which Agreement is hereinafter referred to as " the Tonkolili Agreement "): And whereas an Agreement was made on the nineteenth day of February, 1944, between the same parties which Agreement was supplementary to the Tonkolili Agreement and was set out in the Schedule to an Ordinance shortly entitled the Tonkolili (Supplementary) Agreement Ordinance (which Supplementary Agreement is hereinafter referred to as " the Tonkolili Supplementary Agreement "): And whereas under the terms of the Tonkolili Agreement (as amended) the Government agreed with the Company (inter alia) that it would not during the term therein mentioned impose upon the Company a tax on profits (as therein defined) made from or in respect of andfor any duty on or in respect of the exercise of any of the rights conferred by the Tonkolili Agreement (as so amended) and any mining rights or leases issued in pursuance thereof exceeding a total amount equivalent to five per centum per annum on such profits for such year as assessed to income tax in the United Kingdom: And whereas by virtue of an arrangement made between the Government and His Majesty's Government in the United Tonkolili Agreement {1947) [Cap. 204 2133 Kingdom under the Income Tax Ordinance, as amended (in ~ap. 1 IIfi~ 47 particular) by the Income Tax (Amendment) Ordinance, 1947, o. 0 • relief from double taxation was afforded in respect of income tax in Sierra Leone and income tax in the United Kingdom, so that, if certain further amendments were made to the Tonkolili Agreement (as amended), the Company could be made liable to income tax in Sierra Leone without increasing its total liability to taxation both in Sierra Leone and the United Kingdom: And whereas the Company agreed to the further amendments of the Tonkolili Agreement (as amended) so as to become liable to pay income tax in Sierra Leone, subject to certain conditions: And whereas the amendments and conditions aforesaid are contained in two Agreements and a Memorandum of Agreement all made on the third day of December, 1947, between the same parties, which Agreements and Memorandum of Agreement are set out in Schedules A, B and C hereto: Now, therefore, be it enacted by the Governor of Sierra Leone, with the advice and consent of the Legislative Council thereof, as follows- Schedules A, Band C.