Singapore legislation
Clause 327
Clause 327
Investment fluctution reserve
(1)
The net profits and losses of an investment company from the purchase and sale of securities shall be respectively credited and debited by the company to a reserve account to be kept by it and to be called the “investment fluctuation reserve”.[Aust. s. 342.]
(2)
The investment fluctuation reserve shall not be available for the payment of dividends.
(3)
The investment fluctuation reserve shall be available for the payment of tax in respect of profits made on the sale of securities.