Clause 11

Section 39 of the principal Act is amended by deleting sub-paragraph (ii) of the proviso to paragraph (e) of subsection (2) and substituting the following: —“(ii)no such deduction shall be allowed in excess of four thousand dollars except that where the contributions recoverable under subsection (2) of section 6 of the Central Provident Fund Act (Cap. 121) or the contributions made to a designated pension or provident fund exceed four thousand dollars the excess contributions, to the extent of one thousand dollars, shall be allowed as a deduction; and for this purpose a “designated pension or provident fund” means an approved fund designated by the Minister;”.