Chapter:	289A	Title:	TAX RESERVE CERTIFICATES (FOURTH SERIES) RULES	Gazette Number:	L.N. 186 of 1999; L.N. 187 of 1999
Rule:	2B	Heading:	Maintaining of accounts	Version Date:	01/09/1999

(1) The Commissioner may maintain an account under section 3(1AA) of the Ordinance for any person who has or is likely to have any kinds of income or profits chargeable to tax under the Inland Revenue Ordinance (Cap 112). (24 of 1999 s. 4; L.N. 186 of 1999)
(2) The account shall be maintained subject to the following conditions-

(a) the entries in the account shall be used by the Commissioner or any officer authorized by him for the purpose on a first-in-first-out basis in the payment of tax of the holder of the account when the holder's tax falls due;
(b) a statement on the use of an entry in accordance with subparagraph (a) shall be issued by the Commissioner, in such form as he shall prescribe, to the holder of the account by giving the statement to the holder personally or by forwarding the statement to the holder at his last known address or, if his last known address is not available, in such manner as the Commissioner thinks fit;
(c) the balance of interest accrued on an entry ("first-mentioned entry") used under subparagraph (a) remaining after any part of which is accepted for the payment of any tax under rule 6 shall be made an entry in the account, bearing the date of the use of the first-mentioned entry;
(d) subject to rule 9, all entries in the account including the balance of any entry used under subparagraph (a) shall be carried forward in the account; and
(e) a statement of the account shall be issued by the Commissioner, in such form as he shall prescribe, to the holder of the account by giving the statement to the holder personally or by forwarding the statement to the holder at his last known address or, if his last known address is not available, in such manner as the Commissioner thinks fit in each financial year and such statement shall also be issued in the same manner upon the request of the holder of the account. (L.N. 186 of 1999)