Income Tax (Concessionary Rate of Tax for Approved Trustee Companies) Regulations

“approved trustee company” means a trustee company which is approved by the Minister or such person as he may appoint under section 43J of the Act;

“designated investments” has the same meaning as in the Income Tax (Exemption of Income of Prescribed Persons Arising from Funds Managed by Fund Manager in Singapore) Regulations 2010 (G.N. No. S 6/2010), with references to “prescribed person” therein modified to refer to “approved trustee company”;

“eligible holding company” has the same meaning as in regulation 2 of the Income Tax (Exemption of Income of Foreign Trusts) Regulations (Rg 24);

“foreign account” has the same meaning as in section 13O of the Act;

“foreign bond or loan stock issues” means any bond or loan stock issued by a person not resident in Singapore (but excluding its permanent establishment in Singapore) or by a permanent establishment outside Singapore of a person resident in Singapore in respect of any business carried on outside Singapore through that permanent establishment, where —

“foreign business trust”, “foreign collective investment scheme”, “foreign debt securities”, “foreign equity securities” and “foreign mutual fund corporation” have the same meanings as in the Income Tax (Concessionary Rate of Tax for Financial Sector Incentive Companies) Regulations 2005 (G.N. No. S 735/2005);

“mutual fund corporation” means a collective investment scheme or closed-end fund as defined in section 2 of the Securities and Futures Act (Cap. 289) that is constituted as a corporation;

“philanthropic purpose trust” has the same meaning as in section 13O of the Act;

“qualifying debt securities” has the same meaning as in section 13(16) of the Act;

“relevant foreign trust” means a foreign trust as defined in regulation 2A of the Income Tax (Exemption of Income of Foreign Trusts) Regulations (Rg 24), other than a unit trust referred to in paragraph (1)(b) of that regulation;

“unit trust” means any trust established for the purpose, or having the effect, of providing facilities for the participation by persons as beneficiaries under a trust, in profits or income arising from the acquisition, holding, management or disposal of securities or any other property.