Exemption of income of trustee of trust fund arising from funds managed by fund manager in Singapore
13C.—(1)  There shall be exempt from tax such income as the Minister may by regulations prescribe of the trustee of any prescribed trust fund arising from funds managed in Singapore by any fund manager.
[53/2007; 22/2011]
(2)  The Minister may by regulations —
(a)make such transitional and savings provisions as he may consider necessary or expedient in relation to the repeal of section 13C in force immediately before 1st September 2007;
(b)provide for the determination of the amount of income of the trustee of any prescribed trust fund to be exempt from tax; and
(c)make provision generally for giving full effect to or for carrying out the purposes of this section.
[29/2010]
(3)  This section shall not apply to —
(a)a trustee of a trust fund that is constituted on or after 1st April 2014; or
(b)a trustee of a trust fund that —
(i)is constituted before 1st April 2014; and
(ii)is not a prescribed trust fund at any time before that date.
[27/2009]