Clause 4

by inserting, immediately after subsection (1), the following subsection:“(1A) Notwithstanding subsection (1)(a), where in any year from 1st January 1994 contributions obligatory by reason of a contract of employment are made by any relevant employer to the Central Provident Fund in respect of overseas ordinary wages or overseas additional wages paid to an employee in that year, that part of such contributions up to the relevant amount shall not be deemed to be income accruing to the employee.”; and

by inserting, immediately after the definition of “ordinary wages” in subsection (8), the following definitions:“ “overseas additional wages” means additional wages paid in respect of the performance of any duty on or after 1st January 1994 for any period outside Singapore;“overseas ordinary wages” means ordinary wages paid in respect of the performance of any duty on or after 1st January 1994 for any period outside Singapore;“overseas total wages”, in relation to any year, means the total of the overseas ordinary wages and overseas additional wages in that year received by an employee;“relevant amount” means the amount of contributions which would have been required to be made by the relevant employer had such contributions been obligatory under the Central Provident Fund Act [Cap. 36] in respect of —

the overseas total wages paid to an employee in any year less the aggregate in that year of such part of the overseas ordinary wages paid to the employee in every month in that year as exceeds $6,000; or

$100,000,whichever is the less;“relevant employer” means any company incorporated or registered under the Companies Act [Cap. 50] or any person registered under the Business Registration Act [Cap. 32];”.