Singapore legislation
Clause 24
Clause 24
Amendment of section 42
Section 42 of the principal Act is amended —
(a)
by deleting “33%” wherever it appears in subsection (2) and substituting in each case “30%”;
(b)
by deleting the words “year of assessment 1987 and subsequent years of assessment” in subsection (3)(b) and substituting the words “years of assessment 1987 to 1993”;
(c)
by deleting “30%” wherever it appears in subsection (5) and substituting in each case “27%”; and
(d)
by deleting the full-stop at the end of paragraph (c) of the proviso to subsection (5) and substituting a semi-colon, and by inserting immediately thereafter the following paragraph:“(d)for the year of assessment 1993, be read as a reference to 30%.”.