Clause 4

by deleting the word “or” at the end of paragraph (c) of the definition of “foreign source” in subsection (5), and by inserting immediately thereafter the following paragraph:“(ca)any —

body corporate formed or incorporated in Singapore, one or more of whose members or directors are not citizens of Singapore, or in the case of a member being another company, where one or more of the members or directors of such company are not citizens of Singapore; or

unincorporated association or body constituted under any law in force in Singapore, one or more of whose members or directors are not citizens of Singapore, or in the case of a member being another company, where one or more of the members or directors of such company are not citizens of Singapore,as the Minister may, by notification in the Gazette, declare to be a foreign source for the purposes of this section; or”;

by deleting the full-stop at the end of the definition of “funds” in subsection (5) and substituting a semi-colon, and by inserting immediately thereafter the following definition:“ “funds from a foreign source”, with its grammatical variations, includes funds provided by a foreign source indirectly through any agent of the foreign source.”; and

by deleting “$10,000” in the 3rd line of subsection (7) and substituting “$50,000”.