Section 4: Immunities and privileges

4. Immunities and privileges Notwithstanding any other enactment— (a) any person who has subscribed to or is in possession of a bearer bond shall not— (i) be required under the Income Tax Act or any other revenue law to disclose the nature or source of the funds used for the subscription or possession of that bond; and (ii) be subject to any prosecution under the Income Tax Act or any other revenue law in relation to his subscription or possession of that bond or the funds used for the subscription or possession of that bond; (b) any person, on proof of receipt of any amount of money on redemption at maturity of any bearer bond, shall be entitled— (i) to the immunities specified in paragraph (a) in relation to that amount of money; and B6 – 1 [Issue 1] Bearer Bonds (Immunities and Privileges) Act (ii) to treat that amount of money as capital exempt from income tax.