Clause 10

by deleting subsection (1A) and substituting the following subsection:“(1A) Subsection (1) does not apply to any income of a prescribed person that is —

derived in the prescribed person’s capacity as a trustee of a pension or provident fund approved under section 5;

derived in the prescribed person’s capacity as a trustee of a designated unit trust referred to in section 35(14) in a basis period or part of a basis period for a year of assessment, where the person has elected under section 35(12) for that provision to apply to any of the person’s income in that basis period or that part of the basis period;

derived in the prescribed person’s capacity as a trustee of a real estate investment trust within the meaning of section 43(10); or

exempt from tax under section 13X.”;

by deleting the definition of “relevant day” in subsection (9) and substituting the following definition:“ “relevant day” means —

the last day of the basis period of the prescribed person for the year of assessment referred to in subsection (2), (4) or (6) (as the case may be);

if on a day within that basis period the prescribed person becomes an approved person under section 13X(1)(a) the day immediately before the first‑mentioned day; or

if on a day within that basis period the prescribed person becomes an approved master fund or approved feeder fund of —

an approved master‑feeder fund structure under section 13X(1)(b);

an approved master‑feeder fund‑SPV structure under section 13X(1)(c); or

an approved master fund‑SPV structure under section 13X(1)(d),the day immediately before the first‑mentioned day;”; and

by deleting the word “non‑resident” in the section heading and substituting the words “prescribed persons”.