Singapore legislation
Regulation 3
of Income Tax (Related Party of Approved Container Investment Enterprise under Section 43P) Rules 2021
Regulation 3
Related party
Subregulation 1
For the purposes of section 43P of the Act, each of the following is a related party of an approved container investment enterprise (called in this rule the approved enterprise):
another approved container investment enterprise that is related to the approved enterprise —
where the approved enterprise is a company — in accordance with paragraph (2) or (3); or
where the approved enterprise is a registered business trust or partnership — in accordance with paragraph (3);
a company —
being one —
that is incorporated and resident in Singapore; or
that is incorporated outside Singapore; and
at least 25% of the total number of the issued ordinary shares of which are beneficially owned (whether directly or indirectly) by —
the approved enterprise; or
another approved container investment enterprise that is a related party of the approved enterprise under sub‑paragraph (a);
a partnership that is registered or formed outside Singapore —
where the approved enterprise is entitled (whether directly or indirectly) to at least 25% of the partnership’s income; or
one of the partners of which —
is another approved container investment enterprise that is a related party of the approved enterprise under sub‑paragraph (a); and
is entitled to at least 25% of the partnership’s income.
Subregulation 2
For the purposes of paragraph (1)(a)(i), an approved container investment enterprise (called in this paragraph the related enterprise) is related to the approved enterprise if at least 25% of the total number of the issued ordinary shares of —
the approved enterprise; and
the related enterprise,are beneficially owned (whether directly or indirectly) by the same shareholder or shareholders.
Subregulation 3
For the purposes of paragraph (1)(a)(i) and (ii), an approved container investment enterprise (called in this paragraph the related enterprise) is related to the approved enterprise if —
the approved enterprise and related enterprise are managed by the same approved container investment manager; or
all the issued ordinary shares of —
the approved container investment manager that manages the approved enterprise; and
the approved container investment manager that manages the related enterprise,are beneficially owned (whether directly or indirectly) by the same shareholder or shareholders.