Singapore legislation
Clause 15
Clause 15
Amendment of section 43E
Section 43E of the principal Act is amended —
(a)
by inserting, immediately after the words “outside Singapore” in the ninth line of subsection (1), the words “or derived by it from such qualifying treasury, investment or financial activities as may be prescribed”;
(b)
by deleting the word “and” at the end of paragraph (a) of subsection (2), and by inserting immediately thereafter the following paragraph:“(b)in respect of any qualifying treasury, investment or financial activity only where the qualifying activity has been approved in relation to that headquarters company for such concessionary rate; and”; and
(c)
by re-lettering the existing paragraph (b) as paragraph (c).