Regulation 1
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order.
/akn/sg/act/sub_leg/1947/ITA-OR35
Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1947
- Sections
- 2
Quick answer
About this subsidiary legislation
Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-OR35 1947, currently marked in force and first recorded in 1947.
Regulation 2
Amended byS 19/98S 20/98
It is hereby declared that under section 14I(3) of the Act —
(a)
the provisions in the account of Lee Wah Bank Ltd which have been transferred to United Overseas Bank Ltd —
(i)
shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Lee Wah Bank Ltd; and (ii)shall for the purposes of section 14I of the Act be treated as having been allowed to United Overseas Bank Ltd as a deduction under that section; (b)the provisions in the account of Monte dei Paschi di Siena Singapore Branch which have been transferred to Banca Monte dei Paschi di Siena SpA Singapore Branch —
(i)
shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Monte dei Paschi di Siena Singapore Branch; and (ii)shall for the purposes of section 14I of the Act to be treated as having been allowed to Banca Monte dei Paschi di Siena SpA Singapore Branch as a deduction under that section, subject to the conditions specified in the letter of approval dated 7th September 1996.
Common questions
- What is Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order?
- Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-OR35 1947, currently marked in force and first recorded in 1947.
- Is Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order still in force?
- Yes — Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order is currently in force.
- When did Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order take effect?
- Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order was first recorded in 1947.
- How many regulations does Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order have?
- Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order contains 2 regulations.
- Where can I read the official version of Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order?
- The official text of Income Tax (Transfer of Undertaking by Bank or Finance Company) (Consolidation) Order is published at sso.agc.gov.sg.