15. Amendment of section 13Y

Section 13Y of the principal Act is amended —

by inserting, immediately after the words “from managing in Singapore the funds of” in subsection (1)(b), the words “, or providing in Singapore any investment advisory service to,”; and

by deleting the words “conditions to which the exemption from tax under that subsection is subject” in subsection (3)(a) and substituting the words “that the conditions to which any approval is subject may be stated in the letter of approval issued to the foreign government-owned entity”.