Singapore legislation

Regulation 2

of Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 2) Notification 2001

Regulation 2

Exemption

Subregulation 1

There shall be exempt from withholding tax the following payments made by Singapore Aircraft Leasing Enterprise Pte. Ltd. (referred to in this paragraph as SALE) in relation to Airbus A320-200 Aircraft Manufacturer’s Serial Number 1450:

(a)

rent payable to Caladborg Lease Limited during the period 11th May 2001 to 11th May 2011 (both dates inclusive) under a lease agreement dated 10th May 2001 for lease of the aircraft;

(b)

interest payable to Halifax PLC under a guarantee dated 10th May 2001 guaranteeing the loan obtained by Caladborg Lease Limited for purchase by Caladborg Lease Limited of the aircraft; and

(c)

fees (including front-end fees and commitment fees) payable under the lease agreement and the guarantee referred to in sub-paragraphs (a) and (b), respectively.

Subregulation 2

There shall be exempt from withholding tax the following payments made by SALE in relation to Airbus A320-200 Aircraft Manufacturer’s Serial Number 1194:

(a)

rent payable to Excalibur Express Limited during the period 19th October 2000 to 19th April 2010 (both dates inclusive) under a lease agreement dated 14th April 2000 for lease of the aircraft;

(b)

interest payable to Halifax PLC under a guarantee dated 14th April 2000 guaranteeing the loan obtained by Excalibur Express Limited for purchase by Excalibur Express Limited of the aircraft; and

(c)

fees (including front-end fees and commitment fees) payable under the lease agreement and the guarantee referred to in sub-paragraphs (a) and (b), respectively.

Subregulation 3

There shall be exempt from withholding tax the following payments made by SALE in relation to Airbus A321-200 Aircraft Manufacturer’s Serial Number 1202:

(a)

rent payable to Excalibur Express Limited during the period 19th October 2000 to 19th April 2010 (both dates inclusive) under a lease agreement dated 14th April 2000 for lease of the aircraft;

(b)

interest payable to Halifax PLC under a guarantee dated 14th April 2000 guaranteeing the loan obtained by Excalibur Express Limited for purchase by Excalibur Express Limited of the aircraft; and

(c)

fees (including front-end fees and commitment fees) payable under the lease agreement and the guarantee referred to in sub-paragraphs (a) and (b), respectively.

Read in full context — Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development Loans) (No. 2) Notification 2001 →