Singapore legislation

Clause 22

of Income Tax (Amendment) Bill

Clause 22

Amendment of section 26

Section 26(12) of the principal Act is amended by deleting the full-stop at the end of the definition of “Singapore life policy” and substituting a semi-colon, and by inserting immediately thereafter the following definition:“ “surplus account”, in relation to a participating fund of a life insurer, means the surplus account established and maintained under section 17(6)(a) of the Insurance Act as part of that fund.”.