12. Amendment of section 15

Section 15 of the principal Act is amended —

by deleting the word “and” at the end of subsection (1)(o);

by deleting the full-stop at the end of paragraph (p) of subsection (1) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:“(q)any outgoings and expenses, whether directly or in the form of reimbursements, incurred by any company in respect of any right or benefit granted to any person, by reason of any office or employment held in Singapore by that person, to acquire shares (other than treasury shares) of a holding company of that company.”; and

by inserting, immediately after subsection (2), the following subsection:“(3) In this section, “holding company” has the same meaning as in section 5 of the Companies Act (Cap. 50).”.