Singapore legislation

Regulation 2

of Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2010

Regulation 2

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) —

(a)

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

(b)

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.

Read in full context — Income Tax (Transfer of Undertaking by Bank or Finance Company) (No. 2) Order 2010 →