Regulation 3

made by a financial institution to a person who is not resident in Singapore; (b)that is not derived through any operation carried on by the person through the person’s permanent establishment in Singapore; and

that is liable to be made —

under —

a contract for an interest rate or currency swap transaction, where the contract took effect on a date before 25 February 2000; or

a contract for an interest rate or currency swap transaction that was extended or renewed, and the extension or renewal of the contract took effect on a date before 25 February 2000,where the payment is made on a date that falls within the period from 25 February 2000 to 31 December 2022 (both dates inclusive) (called in this sub‑paragraph the relevant period);

under a contract for an interest rate or currency swap transaction, where the contract takes effect on a date that falls within the relevant period; (iii)under a contract for an interest rate or currency swap transaction that is extended or renewed, where —

the extension or renewal of the contract takes effect on a date that falls within the relevant period; and

the payment is made on or after the date on which such extension or renewal takes effect; or

under a contract for an interest rate or currency swap transaction that is varied, where —

the variation takes effect on a date that falls within the period from 4 November 2022 to 31 December 2022 (both dates inclusive); and (B)the payment is made on or after the date on which the variation takes effect.

under a contract for an interest rate or currency swap transaction mentioned in sub-paragraph (1)(c)(ii), (iii) and (iv), that is varied with effect from a date on or after 15 April 2024; and (b)on or after the date on which the variation takes effect.