No. S 156
Income Tax Act
(Chapter 134)
Income Tax (Concessionary Rate of Tax for Approved Commodity Derivatives Trading Companies) (Amendment) Regulations 2009
In exercise of the powers conferred by section 43S of the Income Tax Act, the Minister for Finance hereby makes the following Regulations:
Citation and commencement
1.  These Regulations may be cited as the Income Tax (Concessionary Rate of Tax for Approved Commodity Derivatives Trading Companies) (Amendment) Regulations 2009 and shall be deemed to have come into operation on 24th May 2007.
Amendment of regulation 4
2.  Regulation 4 of the Income Tax (Concessionary Rate of Tax for Approved Commodity Derivatives Trading Companies) Regulations 2005 (G.N. No. S 672/2005) is amended by inserting, immediately after paragraph (5), the following paragraph:
(5A)  Tax shall be payable at the rate of 5% for each year of assessment upon the income derived by —
(a)an approved standard commodity derivatives trading company; or
(b)an approved enhanced commodity derivatives trading company,
from trading on or after 24th May 2007 with any person in —
(i)over-the-counter commodity derivatives; or
(ii)over-the-counter freight derivatives,
where the trade is cleared on or after that date through the SGX AsiaClear Facility by the Singapore Exchange Derivatives Clearing Limited.”.
Amendment of regulation 5
3.  Regulation 5(b) of the Income Tax (Concessionary Rate of Tax for Approved Commodity Derivatives Trading Companies) Regulations 2005 is amended by deleting the words “(4) or (5)” and substituting the words “(4), (5) or (5A)”.

Made this 15th day of April 2009.

TEO MING KIAN
Permanent Secretary,
Ministry of Finance,
Singapore.
[MF(R) 032.018.2919.V4 ; AG/LEG/SL/134/2005/11 Vol. 1]