Singapore legislation
Clause 6
Clause 6
Amendment of section 38
Section 38 of the principal Act is amended —
(a)
by deleting the word “When” in subsection (2) and substituting the words “Subject to subsection (2A), when”;
(b)
by inserting, immediately after the words “chargeable with duty” in subsection (2), the words “or with full duty”; and
(c)
by inserting, immediately after subsection (2), the following subsection:“(2A) Where the instrument is one referred to in section 15A(1), the Commissioner may base his opinion on a statutory declaration in such form as he may direct, made by or on behalf of the target company, the acquiring company or the acquiring subsidiary, or all of them, referred to in that provision, and such further evidence as he considers necessary.”.