Clause 22
Amendment of section 26
of Income Tax (Amendment) Bill
BillNot in forceProvision 22 of 41
Clause 22
Section 26(12) of the principal Act is amended by deleting the full-stop at the end of the definition of “Singapore life policy” and substituting a semi-colon, and by inserting immediately thereafter the following definition:“ “surplus account”, in relation to a participating fund of a life insurer, means the surplus account established and maintained under section 17(6)(a) of the Insurance Act as part of that fund.”.