| Income Tax Act |
| Income Tax (Concessionary Rate of Tax for Financial Sector Incentive Companies) (Amendment No. 2) Regulations 2021 |
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| Citation and commencement |
| 1. These Regulations are the Income Tax (Concessionary Rate of Tax for Financial Sector Incentive Companies) (Amendment No. 2) Regulations 2021 and come into operation on 1 July 2021. |
| Amendment of regulation 2 |
2. Regulation 2(1) of the Income Tax (Concessionary Rate of Tax for Financial Sector Incentive Companies) Regulations 2017 (G.N. No. S 239/2017) (called in these Regulations the principal Regulations) is amended by deleting the definition of “guarantee facility” and substituting the following definition:
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| Amendment of regulation 8 |
3. Regulation 8 of the principal Regulations is amended —
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| Amendment of First Schedule |
| 4. Paragraph 1 of the First Schedule to the principal Regulations is amended by deleting the words “a bank licensed under the Banking Act (Cap. 19) or a merchant bank approved under section 28 of the Monetary Authority of Singapore Act (Cap. 186)” in sub‑paragraph (a) and substituting the words “a bank that holds a licence under section 7 or 79 of the Banking Act or a merchant bank that holds a merchant bank licence, or is treated as having been granted a merchant bank licence, under that Act”. |
Permanent Secretary, Ministry of Finance, Singapore. |
| [R032.018.2183.V21; AG/LEGIS/SL/134/2020/39 Vol. 1] |