Singapore legislation
Clause 2
Clause 2
Amendment of section 15A
Section 15A of the Stamp Duties Act (referred to in this Act as the principal Act) is amended —
by deleting paragraph (b) of subsection (2) and substituting the following paragraph:“(b)must be —
where the date of the acquisition is during the period from 1st April 2010 to 16th February 2012 (both dates inclusive), directly and wholly owned by the acquiring company at the date of the acquisition; and
where the date of the acquisition is during the period from 17th February 2012 to 31st March 2015 (both dates inclusive), wholly owned (whether directly or indirectly) by the acquiring company at the date of the acquisition.”;
by deleting the words “or the acquiring subsidiary, as the case may be, owning” in subsection (3)(a) and substituting the words “and its acquiring subsidiaries owning together in total”;
by deleting the words “the acquiring company or the acquiring subsidiary, as the case may be, owns” in subsection (3)(a) and substituting the words “such total ownership was”;
by deleting the words “or the acquiring subsidiary, as the case may be, owning” in subsection (3)(c) and substituting the words “and its acquiring subsidiaries owning together in total”;
by deleting the words “the acquiring company or the acquiring subsidiary, as the case may be, owns” in subsection (3)(c)(i) and substituting the words “such total ownership was”;
by deleting the words “an allowance” in subsection (4)(c) and substituting the words “a deduction”; and
by deleting the words “, as the case may be,” where they first appear in subsection (7).