Singapore legislation
Clause 39
of Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
Clause 39
Remission of debt under deleted section 64(2) of principal Act
(1)
This section applies to a contravention before the date of commencement of section 26 of this Act by a company of —
section 62(2) of the principal Act; or (b)a condition imposed under section 61(3) of the principal Act as in force before the commencement of section 25 of this Act.
(2)
The Minister for Finance may waive all or a part of any debt due from the company under section 64(2) of the principal Act in force before the date of commencement of section 26 of this Act, if the Minister for Finance is satisfied that the company did not knowingly or intentionally contravene the provision in subsection (1)(a) or the condition in subsection (1)(b).