Singapore legislation

Regulation 18

of Income Tax (Supplementary Retirement Scheme) Regulations 2003

Regulation 18

Application of Regulations to existing accounts, etc.

Where, immediately before 13th January 2003, any account was opened by any person with an SRS operator for the purpose of participating in the SRS —

(a)

such account shall be treated as an SRS account opened under these Regulations;

(b)

such person shall be treated as an SRS member under these Regulations;

(c)

any contribution made to an account referred to in paragraph (a) shall be treated as a contribution made to an SRS account under these Regulations;

(d)

any withdrawal from an account referred to in paragraph (a) shall be treated as a withdrawal made from an SRS account under these Regulations;

(e)

any investment acquired using any funds in an account referred to in paragraph (a) shall be treated as an investment acquired using SRS funds under these Regulations; and

(f)

any deduction of fees and charges by an SRS operator from an account referred to in paragraph (a) shall be treated as a deduction of fees and charges by an SRS operator under these Regulations.

Read in full context — Income Tax (Supplementary Retirement Scheme) Regulations 2003 →