Clause 3

by deleting paragraph (b) of subsection (1) and substituting the following paragraph:“(b)the transfer, conveyance or assignment of any beneficial interest in any asset between such entities that are associated in such manner as may be prescribed; or”;

by inserting, immediately before the definition of “firm” in subsection (4), the following definition:“ “entity” means any of the following: (a)a company;

a registered business trust;

a statutory body;

a limited liability partnership;”;

by inserting, immediately after the definition of “firm” in subsection (4), the following definition:“ “limited liability partnership” has the same meaning as in the Limited Liability Partnerships Act (Cap. 163A) and includes any similar partnership formed or incorporated outside Singapore;”; and

by deleting the full-stop at the end of the definition of “registered business trust” in subsection (4) and substituting a semi-colon, and by inserting immediately thereafter the following definition:“ “statutory body” means any body corporate established by any written law.”.