Regulation 1
Citation
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) Order 2001.
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Income Tax (Transfer of Undertaking by Bank or Finance Company) Order 2001 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S124-2001 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) Order 2001.
Declaration of provisions in accounts
It is hereby declared that under section 14I(3) of the Act, the provisions in the accounts of Natexis Banque Singapore Branch which have been transferred to Natexis Banque Populaires Singapore Branch —
shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Natexis Banque Singapore Branch; and
shall for the purposes of section 14I of the Act be treated as having been allowed to Natexis Banque Populaires Singapore Branch as a deduction under that section,subject to the conditions specified in the letter of approval dated 16th November 2000.
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