Clause 11

by deleting “27%” in the fifth line of subsection (1) and substituting the words “26% or the rate specified in subsection (9)(g) or section 43(1B), as the case may be,”;

by deleting “27%” in the third line of subsection (2)(b) and substituting the words “26% or the rate specified in subsection (9)(g) or section 43(1B), as the case may be,”; and

by deleting the full-stop at the end of paragraph (e) of subsection (9) and substituting a semi-colon, and by inserting immediately thereafter the following paragraphs:“(f)at the rate of 27% on every payment made on or after 1st January 1996 which would be assessable on the person receiving the payment for the year of assessment 1994, 1995 or 1996;

at the rate of 26% on every payment made on or after 28th February 1996 to a person not known to be resident in Singapore of interest which has accrued to or is derived by the person for the period from 1st January 1996 to 27th February 1996.”.