Singapore legislation

Clause 10

Amendment of section 105PA

Section 105PA of the principal Act is amended by deleting subsections (1) and (2) and substituting the following subsections:“(1) This section applies where a regulation made under section 105P imposes a duty on a person (A) to —

(a)

provide any information to another person;

(b)

require A’s internal auditor or appoint another person to carry out an audit for the purpose of determining the extent of compliance by A with the regulation;

(c)

carry out any due diligence requirements; or

(d)

provide any information to —

(i)

A’s internal auditor or the appointed person mentioned in paragraph (b); or

(ii)

a person appointed by the Comptroller to carry out an audit.(2) A is not excused from complying with a duty mentioned in subsection (1) by reason only that A is under a duty not to collect, use or disclose any information, whether imposed by written law, rule of law, any contract or any rule of professional conduct.”.

Read in full context — Income Tax (Amendment No. 2) Bill →