Singapore legislation
Regulation 2
of Stamp Duties (Relief from Stamp Duty upon Acquisition of Shares of Companies) Rules 2013
Regulation 2
Definitions
In these Rules —“local employee” means an employee of the acquiring company —
who is a citizen of Singapore or a Singapore permanent resident; and
who makes contributions in respect of income derived from his employment with the acquiring company to the Central Provident Fund which are obligatory under the Central Provident Fund Act 1953,but excludes a director as defined under section 4 of the Companies Act 1967;“ultimate holding company” has the same meaning as in section 5A of the Companies Act 1967.
Definition
“local employee” means an employee of the acquiring company —
who is a citizen of Singapore or a Singapore permanent resident; and
who makes contributions in respect of income derived from his employment with the acquiring company to the Central Provident Fund which are obligatory under the Central Provident Fund Act 1953,but excludes a director as defined under section 4 of the Companies Act 1967;
Definition
“ultimate holding company” has the same meaning as in section 5A of the Companies Act 1967.