Clause 28

by inserting at the end of paragraph (b) thereof the following: —“For the purposes of this paragraph, any loss incurred in any prior year which, if it had been a profit would have been assessable under this Ordinance save only for the provisions of Part XV of this Ordinance, shall be deemed to be a loss to which the provisions of this paragraph apply;”; and

by deleting paragraph (c) thereof and substituting therefor the following: —“(c)an amount, not exceeding the statutory income, if any, remaining after the deductions authorised by paragraphs (a) and (b) of this subsection have been made, in respect of gifts of money made by him in the year preceding the year of assessment to the Government or to any institution of a public character in Singapore approved by the Minister on application by the institution concerned.For the purposes of this paragraph an “institution of a public character” means an institution or fund in Singapore which is —

a hospital not operated or conducted for profit;

a public or other benevolent institution not operated or conducted for profit;

a public authority or society not operated or conducted for profit and which is engaged in research or other work connected with the causes, prevention or cure of disease in human beings, where the gift is for such activities;

a university, or a public fund for the establishment, maintenance, enlargement or improvement of a university;

an educational institution not operated or conducted for profit, or a public fund for the establishment, maintenance, enlargement or improvement of such an educational institution;

a public or private fund for the provision, establishment or endowment of a scholarship, exhibition or prize in a university, or an educational institution not operated or conducted for profit; or

a public fund established and maintained for the relief of distress among members of the public.”.