Section 36: Taxation

(1) The lessor shall be entitled to all capital allowance tax and other allowance and concessions payable from time under an applicable law.
(2) An equipment, being a subject of an operating lease shall for purpose of a lessor’s annual financial statement remain the equipment of a lessor’s notwithstanding that the equipment is in the possession of the lessee.
(3) For purpose of an annual financial statement only an equipment under an operating lease shall be deemed to be an equipment of a lessor.