Singapore legislation
Clause 33
of Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
Clause 33
Amendment of section 99
Section 99 of the principal Act is amended by inserting, immediately after subsection (3), the following subsection:“(4) This section applies to an approval granted under section 57 or 61, as amended by the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Act 2016, as if —
a reference in this section to the issue of a certificate or letter is a reference to the approval of a loan under section 57 or the approval of royalties, fees or contributions under section 61;
a reference in this section to terms or conditions imposed on the certificate or letter is a reference to the conditions of the approval mentioned in section 57(4)(a) or 61(3)(a), as the case may be;
a reference in this section to the revocation of a certificate or letter is a reference to the revocation of such approval; (d)a reference in this section to the date of a certificate or letter is a reference to the date of such approval; and
a reference in this section to the provisions of this Act ceasing to have effect in relation to a certificate or letter is a reference to the provisions of this Act ceasing to have effect in relation to the approved loan or the approved royalties, fees or contributions.”.