2014 FINANCE (No. 2) 2014 "financial institution" means any banking institution registered in terms of the Banking Act [Chapter 24:201; "mortgage finance" means the provision of loans for the acquisition of immovable property for residential purposes, which loans are secured by the collateral of that immovable property."; (b) in paragraph 10 by the insertion ofthe following subparagraph"(r) interest on any deposit in the low cost housing savings instrument as defined in the regulations to be prescribed by the Minister: Provided that the regulations in question shall be laid before the National Assembly and not come into force until the lapse of fourteen sitting days after they are so laid, unless the House has earlier passed a resolution annulling the regulations.". 6 Amendment of Thirteenth Schedule to Cap. 23:06 The Thirteenth Schedule ("Employees' Tax") to the Income Tax Act [Chapter 23 :06] is amended by the insertion of the following paragraph after paragraph 22"Commissioner deemed to be employer in certain circumstances 23. (1) In this section"public entity" means(a) any corporate body established by or in terms of any Act for special purposes; (b) any company in which the State has a controlling interest, whether by virtue of holding or controlling shares therein or by virtue of a right of appointment of members to the controlling body thereof or otherwise, and includes any company which is a subsidiary, as determined in accordance with section 143 of the Companies Act [Chapter 24:03], of such a body; (c) a local authority; (d) any partnership or joint venture between the State and any person and which is prescribed by the Minister for the purposes of the application of this Act to be a partnership or joint venture. (2) Where(a) (b) in terms of paragraph 10(3) the Commissioner makes an assessment in which the amount of employees' tax for which an employer is personally liable by virtue of paragraph 10(1) is estimated (whether that assessment is made before or after the date of commencement of the Finance (No. 2) Act, 2014); and the employer concerned is(i) a public entity; or (ii) any body or association of persons, whether incorporated or unincorporated, the majority of whose members are employees of the State who contribute to the funds of such body or association by means of deductions from their remuneration made by the State as their employer on behalf of such body or association; and (c) the public entity or body or association referred to in paragraph (b)(i) fails, as an employer, to withhold an amount of employees' tax in terms of paragraph 3 and subsequently pays that amount in terms of paragraph 10; and 211 No.8