Clause 10

by deleting the word “Such” in subsection (1A) and substituting the words “For income derived before 19 February 2020, such”;

by deleting the words “ship that is provisionally registered under the Merchant Shipping Act (Cap. 179)” in subsection (1CA)(a) and substituting the words “provisionally registered ship”;

by deleting the words “ship that is provisionally registered under the Merchant Shipping Act” in subsection (1CA)(c)(i) and substituting the words “provisionally registered ship”;

by inserting, immediately after the words “shipping enterprise” in subsection (1CB)(a), the words “derived before 12 December 2018”;

by deleting the words “from carrying on” in subsection (1CB)(b) and substituting the words “that is derived as part of”;

by deleting subsection (1CC);

by inserting, immediately after subsection (1CL), the following subsections:“(1CM) A reference to a Singapore ship in subsection (1), (1B), (1CD), (1CE), (1CF), (1CG), (1CH), (1CI) or (1CL) includes a provisionally registered ship.(1CN) Subsection (1CM) only applies to income derived in relation to the provisionally registered ship on or after 19 February 2020.”;

by deleting the words “Singapore ship or foreign ship” in subsections (2) and (2A) and substituting in each case the word “ship”;

by deleting the words “Singapore ships or foreign ships” in subsections (3), (4) and (10) and substituting in each case the word “ships”;

by deleting subsection (11) and substituting the following subsection:“(11) Where —

income derived in the basis period for a year of assessment from the operation of a ship is exempt from tax under this section; and

in that or a subsequent basis period, the registry of the ship under the Merchant Shipping Act is closed, deemed closed or suspended,then the capital allowances in respect of that ship for the year of assessment of the basis period mentioned in paragraph (b) and subsequent years of assessment are to be calculated on the residue of expenditure or reducing value of the assets after taking into account the capital allowances provided for in sections 16, 17, 18, 18B, 18C, 19, 19A, 20, 21 and 22 for those years of assessment during which income derived from the operation of the ship was exempt from tax under this section, even if no claim for such allowances was made.”;

by inserting, immediately after the words “Singapore ships” in subsections (13) and (15)(a), the words “and provisionally registered ships”;

by inserting, immediately after the words “Singapore ship” in subsection (15)(c), the words “or a provisionally registered ship”;

by deleting paragraph (d) of subsection (15) and substituting the following paragraph:“(d)any capital allowances in respect of a Singapore ship or a provisionally registered ship of the shipping enterprise for the year of assessment immediately following the year in which the election is made and for subsequent years of assessment, are to be calculated in accordance with subsection (11) as if the registry of the ship under the Merchant Shipping Act is closed, deemed closed or suspended.”;

by deleting the definition of “foreign ship” in subsection (16) and substituting the following definition:“ “foreign ship” means a sea-going ship other than a Singapore ship or provisionally registered ship;”;

by inserting, immediately after the words “Singapore ship” in paragraph (a) of the definition of “operation” in subsection (16), the words “or provisionally registered ship”;

by deleting sub-paragraph (vi) of paragraph (a) of the definition of “operation” in subsection (16) and substituting the following sub-paragraph:“(vi)the finance leasing of the ship for use outside the limits of the port of Singapore, but only where the income in question —

is derived from the finance leasing on or after 12 December 2018; and

is not derived by the shipping enterprise as part of a business of trading in ships or constructing ships for sale; and”;

by inserting, immediately after the definition of “prescribed ship management services” in subsection (16), the following definition:“ “provisionally registered ship” means a ship that is provisionally registered under the Merchant Shipping Act, but excludes one whose registry is closed, deemed closed or suspended;”; and

by inserting, immediately after the words “Singapore ships” in the definition of “shipping enterprise” in subsection (16), the words “, provisionally registered ships”.