Regulation 1
Citation
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2010.
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Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2010 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation ITA-S652-2010 1947, currently marked in force and first recorded in 1947.
Citation
This Order may be cited as the Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2010.
Declaration of provisions in accounts
It is hereby declared that, subject to the conditions specified in the letter of approval dated 5th October 2010, the provisions in the accounts of Hana Bank Singapore Branch (ACRA Registration No. T00FC5901B) which have been transferred to Hana Bank Singapore Branch (ACRA Registration No. T03FC6382K) —
shall not be deemed under section 14I(2)(b) of the Act to be a trading receipt of Hana Bank Singapore Branch (ACRA Registration No. T00FC5901B); and
shall for the purposes of section 14I of the Act be treated as having been allowed to Hana Bank Singapore Branch (ACRA Registration No. T03FC6382K) as a deduction under that section.
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