/akn/sg/act/sub_leg/1947/ITA-S610-2006

Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006

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Type: Subsidiary Legislation
Status: In force
Enacted: 1947
Sections: 11

Quick answer

About this subsidiary legislation

Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S610-2006 1947, currently marked in force and first recorded in 1947.

Regulation 1

Citation

This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006.

Regulation 2

Declaration of provisions in accounts of Banca Commerciale Italiana Singapore Branch

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of Banca Commerciale Italiana Singapore Branch which have been transferred to Banca Intesa S.P.A. Singapore Branch —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Banca Commerciale Italiana Singapore Branch; and

(b)

shall for the purposes of section 14I of the Act be treated as having been allowed to Banca Intesa S.P.A. Singapore Branch as a deduction under that section.

Regulation 3

Declaration of provisions in accounts of The Industrial Bank of Japan Limited Singapore Branch

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of The Industrial Bank of Japan Limited Singapore Branch which have been transferred to Mizuho Corporate Bank Limited Singapore Branch —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of The Industrial Bank of Japan Limited Singapore Branch; and

(b)

shall for the purposes of section 14I of the Act be treated as having been allowed to Mizuho Corporate Bank Limited Singapore Branch as a deduction under that section.

Regulation 4

Declaration of provisions in accounts of Sumitomo Mitsui Banking Corporation Singapore Branch

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of Sumitomo Mitsui Banking Corporation Singapore Branch (Registration No. F02256K) which have been transferred to Sumitomo Mitsui Banking Corporation Singapore Branch (Registration No. F06366D) —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Sumitomo Mitsui Banking Corporation Singapore Branch (Registration No. F02256K); and

(b)

shall for the purposes of section 14I of the Act be treated as having been allowed to Sumitomo Mitsui Banking Corporation Singapore Branch (Registration No. F06366D) as a deduction under that section.

Regulation 5

Declaration of provisions in accounts of Nordea Bank Finland Plc Singapore Branch

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of Nordea Bank Finland Plc Singapore Branch (Registration No. F06157M) which have been transferred to Nordea Bank Finland Plc Singapore Branch (Registration No. F06200G) —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Nordea Bank Finland Plc Singapore Branch (Registration No. F06157M); and

(b)

shall for the purposes of section 14I of the Act be treated as having been allowed to Nordea Bank Finland Plc Singapore Branch (Registration No. F06200G) as a deduction under that section.

Regulation 6

Declaration of provisions in accounts of Industrial & Commercial Bank Ltd

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of Industrial & Commercial Bank Ltd which have been transferred to United Overseas Bank Ltd —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Industrial & Commercial Bank Ltd; and

(b)

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.

Regulation 7

Declaration of provisions in accounts of Overseas Union Trust Ltd

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of Overseas Union Trust Ltd which have been transferred to United Overseas Bank Ltd —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Overseas Union Trust Ltd; and

(b)

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.

Regulation 8

Declaration of provisions in accounts of Keppel TatLee Finance Limited

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of Keppel TatLee Finance Limited which have been transferred to OCBC Finance Limited —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Keppel TatLee Finance Limited; and

(b)

shall for the purposes of section 14I of the Act be treated as having been allowed to OCBC Finance Limited as a deduction under that section.

Regulation 9

Declaration of provisions in accounts of Keppel TatLee Bank Limited

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of Keppel TatLee Bank Limited which have been transferred to Oversea-Chinese Banking Corporation Limited —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Keppel TatLee Bank Limited; and

(b)

shall for the purposes of section 14I of the Act be treated as having been allowed to Oversea-Chinese Banking Corporation Limited as a deduction under that section.

Regulation 10

Declaration of provisions in accounts of OCBC Finance Limited

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of OCBC Finance Limited which have been transferred to Oversea-Chinese Banking Corporation Limited —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of OCBC Finance Limited; and

(b)

shall for the purposes of section 14I of the Act be treated as having been allowed to Oversea-Chinese Banking Corporation Limited as a deduction under that section.

Regulation 11

Declaration of provisions in accounts of MeritaNordbanken Merchant Bank Singapore Limited

It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of MeritaNordbanken Merchant Bank Singapore Limited which have been transferred to Nordea Bank Finland Plc Singapore Branch —

(a)

shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of MeritaNordbanken Merchant Bank Singapore Limited; and

(b)

shall for the purposes of section 14I of the Act be treated as having been allowed to Nordea Bank Finland Plc Singapore Branch as a deduction under that section.

Common questions

What is Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006?: Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S610-2006 1947, currently marked in force and first recorded in 1947.
Is Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006 still in force?: Yes — Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006 is currently in force.
When did Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006 take effect?: Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006 was first recorded in 1947.
How many regulations does Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006 have?: Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006 contains 11 regulations.
Where can I read the official version of Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006?: The official text of Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2006 is published at sso.agc.gov.sg.