106. For the purpose of determining after 31 December 1999 whether an individual satisfies the condition set out in subparagraph b of subparagraph 2 of the first paragraph of section 66, or in subparagraph 4 of that paragraph, in respect of the part of a particular period prior to 1 January 2000, the obligation to hold, for that part of the particular period, a valid certificate issued in respect of the individual pursuant to section 19 in relation to the establishment of an international financial centre or in relation to the individual’s employment, must be replaced by the following obligation :(1) as regards the condition set out in subparagraph b of subparagraph 2 of the first paragraph of section 66, the individual’s duties with the person or partnership referred to in subparagraph a of that subparagraph 2 were devoted(a) for the part of the particular period prior to 1 January 1998, exclusively or almost exclusively to the establishment of an international financial centre,
(b) for the part of the particular period subsequent to 31 December 1997 but prior to 1 January 1999, in a proportion of at least 75 %, to the establishment of an international financial centre, or
(c) for the part of the particular period subsequent to 31 December 1998, in a proportion of at least 75 %, to the establishment of an international financial centre, as confirmed by the Minister in the certificate provided for in subparagraph f of the second paragraph of section 737.15 of the Taxation Act (chapter I-3), as it read for a taxation year beginning on or before 20 December 1999 ; and
(2) as regards the condition set out in subparagraph 4 of the first paragraph of section 66, the individual’s duties with the particular corporation or partnership referred to in that section were devoted(a) for the part of the particular period prior to 1 January 1998, exclusively or almost exclusively to the operations of the international financial centre of that corporation or partnership,
(b) for the part of the particular period subsequent to 31 December 1997 but prior to 1 January 1999,i. in a proportion of at least 75 %, to the operations of the international financial centre of that corporation or partnership other than, after 31 March 1998, back office activities, or
ii. in a proportion of at least 75 %, to the operations of the international financial centre of that corporation or partnership, where the individual was a member of the strategic personnel of the international financial centre, or
(c) for the part of the particular period subsequent to 31 December 1998, as confirmed by the Minister in the certificate described in subparagraph c of paragraph 1,i. in a proportion of at least 75 %, to the operations of a business of that corporation or partnership, in respect of which a qualification certificate provided for in paragraph f of the definition of “international financial centre” in section 737.13 of the Taxation Act, as it read before being repealed was valid, other than back office activities, or
ii. in a proportion of at least 75 %, to the operations of the business described in subparagraph i, where the individual was a member of the strategic personnel of the business.
For the purposes of subparagraph c of subparagraph 2 of the first paragraph, the business to which a certificate referred to therein is related must constitute an international financial centre of the particular corporation or partnership.