Clause 47

by deleting the words “who is a citizen of Singapore or a Singapore permanent resident” in subsection (2B) and substituting the words “, other than a director to whom subsection (2C) applies,”; and

by inserting, immediately after subsection (2B), the following subsection:“(2C) Where an employer, being a company, has granted a director of the company who is not resident in Singapore any right or benefit to acquire shares in any company incorporated in Singapore, the employer shall submit a return, in such form as the Comptroller may determine, of any gain or profit derived by the non-resident director when the right or benefit is exercised, assigned, released or acquired as computed under section 10(6) within 30 days of such exercise, assignment, release or acquisition (as the case may be), notwithstanding that the non-resident director may have ceased to be employed by the company at the time the gain or profit is derived.”.