What the official record says
This Act is the Melanesian Trusts (Income Tax Exemption) Amendment Act . This Act comes into force on the day after the date on which it receives the Royal Assent. This Act amends the Melanesian Trusts Act 1974. The purpose of this Act is to amend the Melanesian Trusts Act 1974 to provide, in order to avoid doubt, that from the commencement date of the Melanesian Trusts Act 1974 the following were and are exempt from income tax: income derived by the Melanesian Mission Trust Board (including from any business carried on by, or for, or for the benefit of the Trust Board); and distributions of income by the Melanesian Mission Trust Board. The following new section is inserted after section 4: This section applies to amounts of income derived by the Trust Board, including income derived direc