Exemption
2.—(1)  Income comprising dividends that are received in Singapore by Pacific International Lines (Private) Limited (a company incorporated in Singapore) on or after 10 May 2018 from Pacific International Lines (United Arab Emirates) LLC (a company incorporated in the United Arab Emirates), is exempt from tax.
(2)  The exemption in sub‑paragraph (1) is subject to the terms and conditions specified in the letter of approval dated 10 May 2018 addressed to Pacific International Lines (Private) Limited.