5. This Act shall apply to every business of which any part of the profits made during the chargeable accounting period is chargeable to income-tax by virtue of the provisions of sub-clause (i) or sub-clause (ii) of clause (b) of sub-section (1) of section 4 of the Income-tax Act, 1922, or of clause (c) of that sub-section: Provided that this Act shall not apply to any business the whole of the profits of which accrue or arise without taxable territories where such business is carried on by or on behalf of a person who is resident but not ordinarily resident in taxable territories unless the business is controlled in Bangladesh: Provided further that where the profits of a part only of a business carried on by a person who is not resident in taxable territories or not ordinarily so resident accrue or arise in taxable territories or are deemed under the Income-tax Act, 1922, so to accrue or arise, then, except where the business being the business of a person who is resident, but not ordinarily resident, in taxable territories is controlled in Bangladesh, this Act shall apply only to such part of the business, and such part shall for all the purposes of this Act be deemed to be a separate business.] ¹[Explanation- As respects any period before the 26th day of March, 1971, the reference to “Bangladesh” in the first and the second provisos to this section shall be construed as a reference to the territories then comprised in Pakistan.]