Singapore legislation

Clause 64

of Income Tax (Amendment) Bill

Clause 64

Saving and transitional provisions

(1)

Despite section 3, where —

(a)

before the appointed date for an incentive provision —

(i)

any person or matter was approved by a person appointed by the Minister under the incentive provision as in force immediately before that date; or

(ii)

any waiver, determination, specification or other thing (not being an approval) was made or done by a person appointed by the Minister in exercise of any other function or power under the incentive provision as in force immediately before that date;

(b)

the approval, waiver, determination, specification or thing remained in force immediately before the appointed date for the incentive provision; and

(c)

the power of approval or other function or power has been assigned to a public body under section 3A of the principal Act,then that approval, waiver, determination, specification or thing continues in effect for the remaining period of its validity (if any) as if it were given by that public body, or made or done in exercise of that function or power by that public body, under the incentive provision.

(2)

The deemed approval, waiver, determination, specification or thing mentioned in subsection (1) is subject to the conditions to which the approval, waiver, determination, specification or thing was subject immediately before the appointed date for the incentive provision, and for this purpose those conditions are treated as having been imposed by the public body.

(3)

Despite section 3, where —

(a)

before the appointed date for an incentive provision, a period was specified or extended by a person appointed by the Minister in exercise of any function or power under the incentive provision as in force immediately before that date;

(b)

as of the date immediately before the appointed date for the incentive provision, the period or extended period has yet to expire; and

(c)

that function or power has been assigned to a public body under section 3A of the principal Act,then that period or extended period continues in effect for the remaining period as if it were specified or extended in exercise of that function or power by that public body under the incentive provision.

(4)

The continuing in effect of the period or extended period under subsection (3) is subject to the conditions to which the specification or extension of the period was subject (if any), and for this purpose those conditions are treated as having been imposed by the public body.

(5)

In the definition of “service approval date” in section 43ZF(8) of the principal Act, the date of approval of any company or service is, in the case of an approval to which subsection (1) applies, the date of approval of the company or service by the person appointed by the Minister under that section as in force immediately before the appointed date for the incentive provision in question.

(6)

For a period of 2 years after the date of commencement of section 3, the Minister may, by rules made under section 7 of the principal Act, prescribe any additional provision of a saving or transitional nature consequent on —

(a)

the assignment of a function or power under an incentive provision to a public body under section 3A of the principal Act; or

(b)

the enactment of any other provision of this Act,that the Minister considers necessary or expedient.

(7)

In this section —

Definition

“appointed date”, in relation to an incentive provision, means the date on which the Minister assigns a function or power under the incentive provision to a public body under section 3A of the principal Act;

Definition

“incentive provision” means a provision of the principal Act or any subsidiary legislation made under the principal Act a function or power under which has been assigned to a public body under section 3A of the principal Act;

Definition

“public body” has the meaning given by section 2(1) of the Public Sector (Governance) Act 2018.