Clause 11

by deleting the words “on or after 24 February 2015” in subsection (1)(h) and substituting the words “at any time during the period from 24 February 2015 to 18 February 2020 (both dates inclusive)”;

by deleting the word “and” at the end of subsection (1)(r)(iv);

by deleting the full-stop at the end of paragraph (s) of subsection (1) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(t)on or after 19 February 2020 from providing prescribed ship management services to —

any qualifying special purpose vehicle of the approved international shipping enterprise or another approved international shipping enterprise; or

any qualifying shareholder of the approved international shipping enterprise,in respect of ships owned or operated by the qualifying special purpose vehicle or qualifying shareholder (as the case may be), unless the conditions of its approval otherwise provide.”;

by inserting, immediately after the words “approved international shipping enterprise” in subsections (1AA)(a) and (1AC)(a), the words “derived before 12 December 2018”;

by deleting the words “from carrying on” in subsections (1AA)(b) and (1AC)(b) and substituting in each case the words “that is derived as part of”;

by inserting, immediately after subsection (1AC), the following subsection:“(1AD) Subsection (1)(r) does not apply to any income derived by an approved international shipping enterprise as part of a business of trading in foreign ships or constructing for sale foreign ships for any operation or activity mentioned in that provision.”;

by deleting the words “1st June 2011 and 31st May 2021” in subsection (2A) and substituting the words “1 June 2011 and 31 December 2026”;

by deleting the word “or” at the end of paragraph (b) of the definition of “special purpose company” in subsection (6);

by deleting the full-stop at the end of paragraph (c) of the definition of “special purpose company” in subsection (6) and substituting the word “; or”, and by inserting immediately thereafter the following paragraph:“(d)any operation or activity mentioned in subsection (1)(r) that takes place on or after 12 December 2018.”; and

by inserting, immediately after subsection (7), the following subsection:“(7A) In subsection (1)(t), “qualifying shareholder”, in relation to an approved international shipping enterprise, means an approved company —

that is incorporated and resident in Singapore; and

that beneficially owns (whether directly or indirectly) at least 50% of the total number of issued ordinary shares of the approved international shipping enterprise.”.