Singapore legislation

Clause 6

of Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill

Clause 6

Amendment of section 64

In the principal Act, in section 64, after subsection (2), insert —“(2A) Where —

(a)

any service or activity is prescribed as a qualifying activity for the purposes of section 16 or 20, or any project is prescribed for the purposes of section 43(1)(m);

(b)

any approval is granted under section 17(3), 21(3) or 43(2) (as the case may be) in connection with the prescription mentioned in paragraph (a); and (c)thereafter regulations made under this section remove such prescription,the regulations may further provide for all or any of the following:

(d)

for the approval to continue in force, and for this Act to continue to apply in relation to the approval, despite the removal of the prescription; (e)for any modification of any provision of this Act or the Income Tax Act 1947 in its application pursuant to paragraph (d) (including for any such provision to cease to apply);

(f)

for any other matter of a saving or transitional nature.”.

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