Regulation 5
Amendment of regulation 10
Subsidiary LegislationIn forceProvision 5 of 12
Regulation 5
In the principal Regulations, in regulation 10(2) —
(a)
in the definition of “Governmental Entity”, in paragraph (e), replace the full‑stop at the end with a semi‑colon; and
(b)
after the definition of “Governmental Entity”, insert —“ “Qualified Non‑Profit Entity” means a financial institution —
(a)
that is —
(i)
established in Singapore as a charity registered under section 7 of the Charities Act 1994; or
(ii)
an exempt charity within the meaning given by section 2(1) of the Charities Act 1994; and
(b)
that receives a written confirmation from the Comptroller that the financial institution satisfies all the conditions in sub‑paragraph B(10) of section VIII of the CRS.”.