21 Amendment to Estate Duty Act [Chapter 23:03] 37 Amendment of section 4 of Cap 23:03 With effect from the year of assessment beginning on the 1st January, 2006, section 4 ("What constitutes an estate") (3) of the Estate Duty Act [Chapter 23:03] is amended by in paragraph (d) by the deletion of "one thousand dollars" and the substitution of "ten million dollars". 38 Amendment of section 5 of Cap 23:03 With effect from the year of assessment beginning on the 1st January, 2006, section 5 ("Dutiable amount of estate") of the Estate Duty Act [Chapter 23:03] is amended in paragraph (n) by the deletion of "twenty thousand dollars" and the substitution of "one hundred million dollars". PART VI CAPITAL GAINS TAX Amendment to Finance Act [Chapter 23:04] 39 Amendment section 39 of Cap. 23:04 With effect from the 17th October, 2005, section 39 ("Rates of capital gains withholding tax") of the Finance Act [Chapter 23:04] is amended by the repeal of paragraph (c) and the substitution of⎯ "(c) in the case of a sale of a marketable security other than a security referred to in paragraph (b), five per centum of the price at which the security was sold.". Amendment to Capital Gains Tax Act [Chapter 23:01] 40 New section substituted for section 22F of Cap. 23:01 With effect from the year of assessment beginning on the 1st January, 2006, section 22F of the Capital Gains Tax Act [Chapter 23:01] is repealed and the following is substituted⎯ "22F Exemptions Notwithstanding section 22C, 22D or 22E, capital gains withholding tax ⎯ (a) need not be withheld or paid where the amount concerned is exempt from capital gains tax in terms of section 10; (b) shall not be withheld or paid on the sale of marketable securities by a unit trust registered as an internal scheme under the Collective Investment Schemes Act, 1997, or as an asset manager under the Asset Management Act [Chapter 24:26] (Act No. 16 of 2004), but shall be withheld and paid on the redemption of any unit by an investor in the unit trust.".