Question 3 (13 marks) Jason is an IT engineer employed by Blockchain Ltd. ("Blockchain"), which is carrying on cryptocurrency business in Hong Kong. Jason has a plan that he will terminate his existing employment contract with Blockchain and incorporate a self-owned Hong Kong company ("Service Co."), which will enter into an IT service agreement with Blockchain. Under the IT service agreement, Jason will provide IT consultancy services to Blockchain in the capacity of Service Co. 's employee. An annual fee will be payable by Blockchain to Service Co. at an amount equivalent to Jason's annual salary under the existing employment contract with Blockchain. The fee will be payable on a monthly basis through bank transfer. Jason will be entitled to the staff discount on purchasing cryptocurrency from Blockchain. As an employee of Service Co., Jason receives accommodation and other fringe benefits from Service Co. Required: Regarding the arrangement proposed by Jason, evaluate and comment whether s.9A of the Inland Revenue Ordinance is applicable to the relationship between Blockchain and Jason, and the consequences if this section is applicable. (Total for Question 3: 13 marks)