Income Tax (Concessionary Rate of Tax for Futures Members of the Singapore Exchange) (Amendment) Regulations 2007

Status:

Published in Subsidiary Legislation Supplement
on 02 Mar 2007

No. S 97

Income Tax Act

(Chapter 134)

Income Tax (Concessionary Rate of Tax for Futures Members of the Singapore Exchange) (Amendment) Regulations 2007

In exercise of the powers conferred by section 43D of the Income Tax Act, the Minister for Finance hereby makes the following Regulations:

Citation and commencement

1.—(1) These Regulations may be cited as the Income Tax (Concessionary Rate of Tax for Futures Members of the Singapore Exchange) (Amendment) Regulations 2007.

(2) Regulation 2(a) shall be deemed to have come into operation on 27th February 2004.

(3) Regulation 2(b) and (c) shall be deemed to have come into operation on 1st January 2004.

Amendment of regulation 2

2. Regulation 2 of the Income Tax (Concessionary Rate of Tax for Futures Members of the Singapore Exchange) Regulations (Rg 16) is amended —

(a)

by deleting sub-paragraph (i) of paragraphs (a) and (b) of the definition of “relevant transaction” and substituting in each case the following sub-paragraph:

“(i)	a bank licensed under the Banking Act (Cap. 19), or a merchant bank approved by the Monetary Authority of Singapore, which is a financial sector incentive company;”;

(b)

by deleting sub-paragraph (v) of paragraph (a) of the definition of “relevant transaction” and substituting the following sub-paragraph:

“(v)	a foreign investor where such transaction is carried out through a financial sector incentive company;”; and

(c)

by deleting sub-paragraph (vi) of paragraph (b) of the definition of “relevant transaction” and substituting the following sub-paragraph:

“(vi)

a foreign investor where such transaction is carried out through a financial sector incentive company;”.

[G. N. Nos. S 643/2003; S 253/2005]

Made this 27th day of February 2007.

TEO MING KIAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R) R32.019.2420 V3; AG/LEG/SL/134/2005/23 Vol. 1]

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