Income Tax (Central Fund Administrators) (Amendment) Regulations 2004

Status:

Published in Subsidiary Legislation Supplement
on 10 Sep 2004

No. S 571

Income Tax Act

(Chapter 134)

Income Tax (Central Fund Administrators) (Amendment) Regulations 2004

In exercise of the powers conferred by section 107(2) 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 (Central Fund Administrators) (Amendment) Regulations 2004 and shall be deemed to have come into operation on 28th July 2004.

Amendment of regulation 4

2. Regulation 4 of the Income Tax (Central Fund Administrators) Regulations 2004 (G.N. No. S 40/2004) is amended —

(a)

by deleting the word “individuals” in paragraph (1)(e) and substituting the words “number of persons”; and

(b)

by inserting, immediately after paragraph (2), the following paragraph:

“(2A) For the purposes of paragraph (1)(e), where the board of trustees of an applicant consists of one or more companies, each such company shall be treated as if it were a person who is a citizen of Singapore if at least half of the number of directors of that company are citizens of Singapore.”.

Made this 26th day of August 2004.

LIM SIONG GUAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF R 32.9.3.Pt. 22; AG/LEG/SL/134/2002/14 Vol. 1]

Search within Legislation