Singapore legislation
Clause 41
Clause 41
Amendment of section 71
Section 71 of the principal Act is amended —
(a)
by inserting, immediately after “5%” in subsection (2)(a), the words “(or such other rate as may be prescribed in substitution)”;
(b)
by inserting, immediately after “20%” in subsection (2)(b), the words “(or such other rate as may be prescribed in substitution)”; and
(c)
by inserting, immediately after subsection (7), the following subsection:“(8) The Minister may, by order in the Gazette and subject to such conditions as the Minister may specify in the order, remit or refund, wholly or in part, any contribution mentioned in subsection (2)(a) or (b) paid or payable by a particular society or a particular class of societies.”.