Singapore legislation

Regulation 3A

of Stamp Duties (Relief from Stamp Duty upon Acquisition of Shares of Companies) Rules 2013

Regulation 3A

Prescribed qualifying period under section 15A(8)(b) of Act

Amended byS 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021S 666/2022 wef 01/04/2015

Subregulation 1

Amended byS 666/2022 wef 31/12/2021

For the purposes of section 15A(8)(b) of the Act, the prescribed period that an acquiring company may elect to replace the qualifying period mentioned in section 15A(8)(a) of the Act is the period specified in paragraph (2) or (3), whichever is applicable.

Subregulation 2

Amended byS 666/2022 wef 31/12/2021

Where the qualifying period in the first instance is the financial year of the acquiring company in which the acquisition mentioned in section 15A(7)(b) of the Act is made, the prescribed period is a period of 12 months ending on and including the date of —

(a)

the acquisition mentioned in section 15A(7)(b) of the Act; or

(b)

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 mentioned in sub‑paragraph (a) falls.

Subregulation 3

Amended byS 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021S 666/2022 wef 31/12/2021

Where the qualifying period in the first instance is the financial year of the acquiring company in which the acquisition mentioned in section 15A(7)(d) of the Act is made, the prescribed period is either of the following periods:

(a)

the shorter of the following:

(i)

a period of 12 months ending on and including the date of the acquisition mentioned in section 15A(7)(d) of the Act;

(ii)

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 —

(A)

that is made in a qualifying period in relation to an acquisition mentioned in section 15A(7)(b) of the Act; and

(B)

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 mentioned in sub‑paragraph (i);

(b)

the shorter of the following:

(i)

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 mentioned in section 15A(7)(d) of the Act is made;

(ii)

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 —

(A)

that is made in a qualifying period in relation to an acquisition mentioned in section 15A(7)(b) of the Act; and

(B)

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 mentioned in sub‑paragraph (i).

Read in full context — Stamp Duties (Relief from Stamp Duty upon Acquisition of Shares of Companies) Rules 2013 →