No. S 257
Income Tax Act
(Chapter 134)
Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Logns) (No. 7) Notification 1997
In exercise of the powers conferred by section 13(4) of the Income Tax Act, the Minister for Finance hereby makes the following Notification:
Citation
1.  This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) (No. 7) Notification 1997.
Exemption
2.  The swap payments made by Pescara Pte Ltd to Lloyds Bank Plc Limited, England, under the International Swap Dealers Association, Inc. (ISDA) Master Agreement dated 31st October 1996 shall be exempt from income tax from 31st October 1996 to 19th December 2005.
Cancellation
3.  The Income Tax (Exemption of Interest and Other Payments on Economic and Technological Development Loans) Notification 1996 (G.N. No. S 24/96) is cancelled, with effect from 31st October 1996.

Made this 27th day of May 1997.

KOH YONG GUAN
Second Permanent Secretary,
Ministry of Finance,
Singapore.