Regulation 1
Citation
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 4) Order 2002.
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Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 4) Order 2002 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S667-2002 1947, currently marked in force and first recorded in 1947.
Citation
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 4) Order 2002.
Declaration of provisions in accounts
It is hereby declared that, subject to the conditions specified in the letter of approval dated 8th June 2002, the provisions in the accounts of International Bank of Singapore Limited which have been transferred to Overseas Union Bank Limited —
shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of International Bank of Singapore Limited; and
shall for the purposes of section 14I of the Act be treated as having been allowed to Overseas Union Bank Limited as a deduction under that section.
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