12 A. in subparagraph (a)⎯ I. in subparagraph (viii) by the insertion after “1st January, 2003,” of “but before the 1st January, 2004,”; II. by the insertion after subparagraph (viii) of the following subparagraph— “(ix) fifteen million dollars incurred by the taxpayer, where the expenditure was incurred on or after the 1st January, 2004;”; B. in subparagraph (b)⎯ I. in subparagraph (vii) by the insertion after “1st January, 2003,” of “but before the 1st January, 2004,”; II. by the insertion after subparagraph (vii) of the following subparagraph— “(viii) fifty million dollars incurred by the taxpayer, where the expenditure was incurred on or after the 1st January, 2004.”; (ii) in subparagraph (2) by the deletion of “one million dollars” and the insertion of “fifty million dollars”. 18 Amendment of Sixth Schedule to Cap. 23:06 With effect from the year of assessment beginning on the 1st January, 2004, the Sixth Schedule (“Deductions in Respect of Contributions to Benefit and Pension Funds and the Consolidated Revenue Fund”) to the Income Tax Act [Chapter 23:06] is amended— (a) in paragraph 10 by the repeal of subparagraph (b) and the substitution of— “(b) seven hundred and twenty thousand dollars;”; (b) in paragraph 14— (i) in subparagraph (a) by the deletion of “ninety thousand dollars” and the substitution of “seven hundred and twenty thousand dollars”; (ii) in subparagraph (b) by the deletion of “ninety thousand dollars” wherever it occurs and the substitution of “seven hundred and twenty thousand dollars”; (c) in paragraph 15 by the repeal of subparagraphs (a) and (b) and the substitution of— “(a) so much of those contributions as do not exceed seven comma five per centum of the member’s annual emoluments; or (b) seven hundred and twenty thousand dollars;”; (d) in paragraph 16 by the repeal of subparagraphs (a) and (b) and the substitution of— “(a) so much of those contributions as do not exceed seven comma five per centum of the member’s annual emoluments; or (b) seven hundred and twenty thousand dollars;”; (e) in paragraph 17 in subparagraph (2)—