Clause 17

in paragraph (c)(iii), delete “and” at the end;

in paragraph (d), replace the full‑stop at the end with a semi‑colon; and

after paragraph (d), insert —“(e)for the purposes of section 92J, the definitions of “employee” and “local employee” in section 92J(7) are replaced by the following definition: “local employee”, in relation to a registered business trust, means an individual —

who is a Singapore citizen or a Singapore permanent resident; (b)who is an employee of the trustee‑manager of the business trust for any period in the calendar year 2023 and is on the payroll of the trustee‑manager for that period; and (c)whose sole duty is assisting in managing or operating the business trust, but excludes an individual who is also a unitholder of the business trust.”.”.