Supplementary Provisions, Article 7Transitional Measures Concerning the Selection of the Method of Depreciation of Depreciable Assets

Where an individual who has two or more ships on the Effective Date intends to select a different depreciation method for each ship the individual has, with regard to income tax for 1973, the provisions of Article 124 (Procedures for Changing Depreciation Methods for Depreciable Assets) of the New Order apply with the phrase "March 15 of the year in which the Resident intends to adopt the new depreciation method" in paragraph (2) of that Article deemed to be replaced with "June 30, 1973", and the phrase "if a reasonable period has not elapsed since the Resident who submitted the application adopted the depreciation method currently in use, or if" in paragraph (3) of that Article deemed to be replaced with "if".