Clause 3

by inserting, immediately after the word “be” in the second line of subsection (4)(b), the words “income of a shipping enterprise within the meaning of section 13A or”;

by deleting the words “section 13F” in the fourth line and in the fourteenth line of subsection (4)(b) and substituting in each case the words “section 13A or 13F, as the case may be”;

by inserting, immediately after the word “holder” in the second line of subsection (13A), the words “or by an approved CPF unit trust to any unit holder in respect of any unit purchased with moneys other than those standing to his credit in the Central Provident Fund”;

by inserting, immediately after the word “trust” in the tenth line of subsection (13A), the words “or approved CPF unit trust”;

by deleting the words “only an amount equal to 10% of the distribution shall” in the third and fourth lines of subsection (13B) and substituting the words “the distribution, if made on or after 28th February 1998, shall not”; and

by inserting, immediately before the definition of “designated unit trust” in subsection (13D), the following definition:“ “approved CPF unit trust” has the same meaning as in section 35(7C);”.