Singapore legislation
Clause 44
Clause 44
Amendment of section 105D
Section 105D of the principal Act is amended by inserting, immediately after subsection (3), the following subsection:“(4) For the purposes of subsection (3), the terms of the prescribed arrangement shall not be construed in such a way as to prevent the Comptroller from complying with, or to permit him to decline to comply with, a request for information merely because —
(a)
Singapore does not need the information for its own tax purposes; or
(b)
the information is held by a bank or other financial institution, a nominee or a person acting in an agency or fiduciary capacity, or it relates to the ownership interests in an entity.”.