Singapore legislation
Clause 19
of Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
Clause 19
Amendment of section 31
Subsection (3) of section 31 of the principal Act is hereby amended by substituting a colon for the full-stop appearing at the end thereof and by inserting immediately thereafter the following proviso: —“Provided that where the dividend is paid on any share of a preferential nature, it shall not be so exempt in the hands of the shareholder.”.