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(a) a company (hereafter in this section referred to as the original company) ceases after the 5th day of April, 1956, to carry on the trade of working a qualifying mine to profits of which this Chapter had applied immediately prior to the date of cessation, and
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the later company, if it is incorporated in the State and resident therein for the purposes of income tax, shall be given relief, from the payment of its net income tax referable to its profits from the said trade, to the same extent (but only to the same extent), and for the same years (but only for the same years), as would have been proper if the original company had not ceased to carry on the said trade and if the said net income tax, instead of being chargeable on the later company, were chargeable on the original company, and the provisions of this Chapter shall, for the purposes of this section, apply with any necessary modifications.
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