Singapore legislation

Regulation 43

of Income Tax (Exemption of Foreign Income) (Consolidation) Order

Regulation 43

Amended byS 422/93 — 22.10.93

Dow Financial Holdings Singapore Pte. Ltd. is hereby granted exemption from tax on the dividends received in Singapore by the company from approved investments in countries outside Singapore, subject to the terms and conditions specified in the letter of approval dated 28th August 1992 addressed to The Dow Chemical Company.