Singapore legislation
Clause 40
of Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
Clause 40
Savings provisions for repeal of Part XIIIC of principal Act
(1)
Despite section 31, the repealed sections 97V and 97W of the principal Act continue to apply in relation to qualifying shares allotted before the commencement date under the repealed section 97U of the principal Act, unless, before that date, the repealed section 97U(6) of the principal Act has applied to those shares.
(2)
Despite section 31, the repealed section 97Y of the principal Act continues to apply to any deduction made under the repealed section 97V of the principal Act, including the repealed provision as continued by subsection (1).
(3)
In this section —
a reference to a repealed provision of the principal Act is a reference to that provision of the principal Act in force immediately before the commencement date;
“commencement date” means the date of commencement of section 31.