Singapore legislation
Regulation 2
of Income Tax (Exemption of Foreign Income) (No. 3) Order 2010
Regulation 2
Exemption
Subregulation 1
Natsteel Holdings Pte Ltd is hereby granted exemption from tax on the dividends received in Singapore from Southern Steel Bhd located in Malaysia, being a company in which Natsteel Holdings Pte Ltd owns 27.03% of the total number of issued ordinary shares.
Subregulation 2
The exemption under sub-paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 15th January 2010 addressed to Natsteel Holdings Pte Ltd.