Singapore legislation
Regulation 3
of Stamp Duties (Relief from Stamp Duty upon Acquisition of Shares of Companies) Rules 2013
Regulation 3
Prescribed qualifying period under section 15A(6)(b) of Act
For the purposes of section 15A(6)(b) of the Act, the prescribed period which an acquiring company may elect to replace the qualifying period referred to in section 15A(6)(a) of the Act is as follows:
in the case where the qualifying period in the first instance is the financial year of the acquiring company in which the acquisition referred to in section 15A(5)(a) of the Act is made, a period of 12 months ending on and including the date of —
the acquisition referred to in section 15A(5)(a) of the Act; or
a subsequent acquisition of ordinary shares in the target company by the acquiring company or the acquiring subsidiary that takes place before the end of the financial year of the acquiring company in which the acquisition referred to in sub-paragraph (i) falls; or
in the case where the qualifying period in the first instance is the financial year of the acquiring company in which the acquisition referred to in section 15A(5)(b) of the Act is made, either of the following periods:
the shorter of the following:
a period of 12 months ending on and including the date of the acquisition referred to in section 15A(5)(b) of the Act; or
a period commencing immediately after the date of the latest acquisition of ordinary shares in a target company by the acquiring company or acquiring subsidiary, as the case may be, that is made in a qualifying period in relation to an acquisition referred to in section 15A(5)(a) of the Act and in respect of which a deduction under section 37O of the Income Tax Act 1947 has been claimed, and ending on and including the date referred to in sub‑paragraph (A); or
the shorter of the following:
a period of 12 months ending on and including the date of an acquisition that is made after but in the same financial year as that in which the acquisition referred to in section 15A(5)(b) of the Act is made; or
a period commencing immediately after the date of the latest acquisition of ordinary shares in a target company by the acquiring company or acquiring subsidiary, as the case may be, that is made in a qualifying period in relation to an acquisition referred to in section 15A(5)(a) of the Act and in respect of which a deduction under section 37O of the Income Tax Act 1947 has been claimed, and ending on and including the date referred to in sub‑paragraph (A),provided that at the end of that financial period of the acquiring company in which the acquisition referred to in paragraph (a)(i) or (b)(i)(A), as the case may be, falls, the acquiring company and its acquiring subsidiaries own together in total more than 50% (in the case of paragraph (a)) or 75% or more (in the case of paragraph (b)) of the total number of ordinary shares in the target company.