Clause 15

by deleting the word “and” at the end of paragraph (k) of section 4(1), and by inserting immediately thereafter the following paragraph:“(ka)to hold moneys, whether as stakeholder or in any other capacity, for the purposes or members of the legal profession in Singapore or under any written law; and”;

by inserting, immediately after paragraph (j) of section 4(2), the following paragraph:“(ja)retain, for the purposes of the Academy, any income derived from the holding of moneys under subsection (1)(ka);”; and

by repealing section 23 and substituting the following section:“Income of Academy to be exempt from tax, etc.