No. S 427
Income Tax Act
(Chapter 134)
Income Tax (Concessionary Rate of Tax or Exemption for Income Derived from Debt Securities) (Amendment) Regulations 2000
In exercise of the powers conferred by section 43N of the Income Tax Act, the Minister for Finance hereby makes the following Regulations:
Citation
1.  These Regulations may be cited as the Income Tax (Concessionary Rate of Tax or Exemption for Income Derived from Debt Securities) (Amendment) Regulations 2000.
Amendment of regulation 2
2.  Regulation 2 of the Income Tax (Concessionary Rate of Tax or Exemption for Income Derived from Debt Securities) Regulations 1999 (G.N. No.S479/99) is amended by deleting the words “section 13 (2A)” in the definition of ““financial institution” and “qualifying debt securities””and substituting the words “section 13 (11)”.
Amendment of regulation 3
3.  Regulation 3 of the Income Tax (Concessionary Rate of Tax or Exemption for Income Derived from Debt Securities) Regulations 1999 is amended —
(a)by deleting the word “and” at the end of paragraph (a); and
(b)by deleting the full-stop at the end of paragraph (b) and substituting the word “; and”, and by inserting immediately thereafter the following paragraph:
(c)any income derived by any financial institution during the period commencing from the first day of its basis period for the year of assessment 2001 to 27th February 2003 from —
(i)providing services as an intermediary in connection with any transaction involving interest rate or currency swaps; and
(ii)trading in interest rate or currency swaps.”.

Made this 26th day of September 2000.

LIM SIONG GUAN
Permanent Secretary,
Ministry of Finance,
Singapore.
[R32.12.021 Vol. 4; AG/LEG/SL/134/97/9 Vol. 2]