Singapore legislation
Clause 33
Clause 33
Amendment of Income Tax Act 1947
(1)
The Income Tax Act 1947 is amended —
by deleting the words “Accounting Standards Council” in the following provisions and substituting in each case the words “Accounting Standards Committee”:Section 10E(2) (definitions of “FRS 11”, “FRS 17”, “FRS 115”, “FRS 116”, “INT FRS 104”, “INT FRS 112”, “SFRS(I) 1‑17”, “SFRS(I) 15”, “SFRS(I) 16”, “SFRS(I) INT 4” and “SFRS(I) INT 12”)Section 14S(2) (definitions of “FRS 38” and “SFRS(I) 1‑38”)Section 34A(10) (definitions of “FRS 39” and “SFRS for Small Entities”)Section 34C(2) (definitions of “FRS 38”, “FRS 103”, “SFRS(I) 1‑38” and “SFRS(I) 3”)Section 34I(7) (definitions of “FRS 115” and “SFRS(I) 15”)Section 34J(14) (definitions of “FRS 116” and “SFRS(I) 16”)Section 37O(16F); and
by deleting the words “Accounting Standards Council” in the definitions of “FRS 38”, “FRS 103”, “SFRS(I) 1‑38” and “SFRS(I) 3” in section 34CA(2) and substituting the words “Accounting Standards Committee”.
(2)
Subsection (1)(b) is deemed to have come into operation on the date of commencement of subsection (1)(a).