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Subsidiary Legislation

Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 6) Order 2002

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Official textFrom Singapore Statutes Online, unchanged

reg 1Citation

This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 6) Order 2002.

reg 2Declaration of provisions in accounts

It is hereby declared that, subject to the conditions specified in the letter of approval dated 10th May 2001, the provisions in the accounts of Hong Leong Finance Limited which have been transferred on 1st September 2001 to Singapore Finance Limited —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Hong Leong Finance Limited; and

(b)

shall for the purposes of section 14I of the Act be treated as having been allowed to Singapore Finance Limited as a deduction under that section.

reg 3Revocation

The Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 4) Order 2001 (G.N. No. S 303/2001) is revoked.