Clause 57

Section 68 of the principal Act is amended by inserting, immediately after subsection (2A), the following subsection:“(2B) Where an employer has granted an individual who is a citizen of Singapore or a Singapore permanent resident any right or benefit to acquire shares in any company incorporated in Singapore, the employer shall submit a return in such form and manner specified in subsection (2) including any gain or profit derived by the individual as computed under section 10(5), notwithstanding that the individual has ceased to be employed by him at the time the gain or profit is derived.”.