CHAPTER X ENTERPRISES RESCUE AND TRANSFER ENCOURAGEMENT Art. 46 - The enterprises recovery operation provided for in law n° 95-34 relating to enterprises in economic difficulties, as amended and completed by subsequent texts, shall be considered as an operation of establishment entitling to the benefit of interventions of the state special funds on the title of funds to be reimbursed and capital contributions to complete the financial structure according to the law in force. It shall also benefit from these interventions, the optional transfer operations in case of death, as well as in cases of running incapability and retirement provided for in article 11 (bis) of the personal and corporate income tax code with the condition to regularize the prior situation to the funds to be reimbursed. These provisions do not apply to the operations of acquisition of actions or shares within the framework of the continuation of the activity or the transfer provided for by law n° 95-34 referred to above, the managers of the enterprise and the majority associate at the date of acquisition or the subscription for the calculation of the participation rate of the majority associate, shall be taken into account the participations of associate as well as those of the spouse and the emancipated children. Art. 47 - Shall be added to the article 7 of the incentives investments code a paragraph 3, reading as follows : 3 - with consideration to articles 12 and 12 (bis) of law n° 89-114 dated 30 December 1989, promulgating the personal and corporate income tax code, shall be deductible from the tax assessment on personal and corporate income from enterprises, the incomes or benefits which are reinvested in purchasing an enterprise assets or the acquisition or subscription of actions or shares which lead to detaining 50% of the capital of an enterprise personally transferred in case of death, as well as in cases of running incapability and retirement provided for in article 11 (bis) of the personal and corporate income tax code, as well as within the frame of the continuation of activity or the transfer provided for in law n° 95-34 referred to above, relating to enterprises in economic difficulties, as amended and completed by subsequent texts, in the limit of 35% of net incomes or benefits submitted to personal and corporate income tax. These provisions do not apply to the operations of acquisition of actions or shares within the framework of the continuation of the activity or the transfer provided for by law n° 95-34 referred to above, the managers of the enterprise and the majority associate at the date of acquisition or the subscription for the calculation of the participation rate of the majority associate, shall be taken into account the participations of associate as well as those of the spouse and the emancipated children. Art. 48 - Shall be added to the article 13 of the incentives investments code a paragraph 3, reading as follows : 3 - with consideration to articles 12 and 12 (bis) of law n° 89-114 dated 30 December 1989, promulgating the N° 104 personal and corporate income tax code, shall be deductible from the tax assessment on personal and corporate income from enterprises incomes or benefits which are reinvested in purchasing a wholly export enterprise assets, actions or shares which lead to detaining 50% of the capital of a wholly export enterprise as well as within the frame of the transfer provided for in law n° 95-34 , relating to enterprises in economic difficulties, as amended and completed by subsequent texts. Art. 49 - Shall be added to the article 23 of the incentives investments code a paragraph 4, reading as follows : 4 - Not withstanding articles 12 and 12 (bis) of law n° 89-114 dated 30 December 1989, promulgating the personal and corporate income tax code, shall be deductible from the tax assessment on personal and corporate income from enterprises incomes or benefits which are reinvested in purchasing an enterprise assets or the acquisition of actions or shares which lead to detaining 50% of the capital of these enterprises within the frame of the transfer provided for in the abovementioned law n° 95-34, relating to enterprises in economic difficulties, as amended and completed by subsequent texts. These provisions do not apply to the operations of acquisition of actions or shares within the framework of the continuation of the activity or the transfer provided for by law n° 95-34 referred to above, the managers of the enterprise and the majority associate at the date of acquisition or the subscription for the calculation of the participation rate of the majority associate, shall be taken into account the participations of associate as well as those of the spouse and the emancipated children. The law herein shall be published in the Official Gazette of the Republic of Tunisia and implemented as law of the state. Tunis, 27 December 2007. Zine El Abidine Ben Ali Law n° 2007-70 dated 27 December 2007 relating to the finance law for the year 2008 (1). In the name of the People ; The Chamber of Deputies and the Chamber of Advisors having adopted; The President of the Republic enacts the following law : Article one : The incomings arising from the collection of taxes, fees and several returns, and loans for a total of 15.242.000.000 dinars are authorized till 2008 and remains authorized to be deducted for the benefit of the state budget, and classified as follows : ________ (1) preparatory works : Discussion and adoption by the Chamber of Deputies during its session held on 3 December 2007. Discussion and adoption by the Chamber of Advisors during its session held on 14 December 2007. Official Gazette of the Republic of Tunisia — 28-31 December 2007 Page 1403