defined value "defined value" means the market value of real property or the acquisition price of shares as determined under subparagraph (3); ACT 364 - FINANCE ACT 1988 24. Amendment of Schedule 2.
defined value "defined value", in relation to living accommodation provided for an employee by or on behalf of his employer, means - (a) where the accommodation is not affected by any written law providing for the restriction or control of rents and the person so providing the accommodation holds the accommodation on lease the rent which is or would have been paid if the accommodation is or had been unfurnished and the lessor and lessee were independent persons dealing at arm's length; (b) in any other case, the rateable value or, in the absence of a rateable value, the economic rent; ACT 53 - INCOME TAX ACT 1967 18. Interpretation of Part III.