Estate Duty Act
(Chapter 96, Section 12(1)(c))
Estate Duty Exemptions — Asian Dollar Bonds — (Consolidation) Notification
N 1
G.N. No. S 190/1977

REVISED EDITION 1990
(25th March 1992)
The Minister for Finance has approved the following Asian Dollar Bonds for exemption from estate duty:
1.The Development Bank of Singapore Ltd — US$10 million 8 1/2% Guaranteed Bonds 1982.
The United Overseas Bank Ltd — US$30 million 6 1/ 2% Convertible Bonds 1988.
The Development Bank of Singapore Ltd — US$60 million 6 1/2% Convertible Bonds 1991.
The Keppel Shipyard Ltd — US$12 million 9 1/ 2% Guaranteed Bonds 1982.
The Keppel Shipyard Ltd — US$25 million 9% Guaranteed Bonds 1983.
NMB Singapore Ltd — US$12 million 8 1/ 2% Guaranteed Notes 1983.
The United Overseas Bank Ltd — US$25 million Floating Rate Notes 1981.
Singapore Airlines Ltd — DM50 million 8 3/ 4% Bearer Bonds 1983.
The Republic of Singapore — US$20 million 7 3/ 4% External Loan Bonds 1987.
The Republic of Singapore — DM100 million 7% Bonds 1982.
The Republic of Singapore — Japanese Yen 10 billion 8.9% Bonds 1988.
The Republic of Singapore — S Fr50 million Bearer 5 1/ 2% Bonds 1989.
The Orient Leasing (Carribean) NV — US$10 million 8 3/4% Bearer Bonds 1983.
The Y S Line (Cayman) Ltd — US$15 million 9 1/ 2% Guaranteed Notes 1980.
The European Investment Bank — US$20 million 9% Bonds 1982.
The Bank of Tokyo Ltd — US$50 million 8 1/ 2% Notes 1981.
The Industrial Bank of Japan Ltd — US$20 million 8 1/ 2% Notes 1981.
The European Investment Bank — US$30 million 8 1/ 4% Bonds 1983.
Korea Development Bank — US$25 million 9 1/ 2% Guaranteed Bonds 1981.
Credit Lyonnais — US$30 million Floating Rate Notes 1983.
The Long-Term Credit Bank of Japan Finance N.V. — US$40 million Floating Rate Notes 1982.
2.The Keppel Shipyard Ltd. — US$15 million 85/8% Bonds 1984.
[S 190/77]
[29.7.77]
The Bank of Tokyo (Curacao) Holding N.V. — US$50 million 7 5/8% Guaranteed Notes 1984.
Sumitomo Electric Industries Ltd. — US$20 million 6% Convertible Bonds 1992.
3.The European Investment Bank — US$30 million 8 1/4% Bonds 1987.
[S 266/77]
[21.10.77]
The Bank of Tokyo (Curacao) Holding N.V. — US$60 million Guaranteed Floating Rate Notes due 1984.
C. Itoh 30 Co. (HK) International Ltd. — US$15 million 8 1/8% Guaranteed Notes due 1984.
Orient Leasing (Caribbean) N.V. — US$20 million 8 1/4% Guaranteed Notes due 1984.
The Settsu Paperboard Mfg. Co., Ltd. — US$15 million 6 3/8% Convertible Bonds due 1992.
Hokushin Electric Works, Ltd. — US$10 million 6 3/ 8% Convertible Bonds 1992.
The Australian Resources Development Bank Ltd. — US$10 million 8 1/4% Deposit Notes due 1982.
The Australian Resources Development Bank Ltd. — A$10 million 10% Deposit Notes due 1982.
4.The Nippon Credit Bank, Ltd. — US$20 million Floating Rate Notes due 1983.
[S 8/78]
[27.1.78]
Sumitomo Heavy Industries Ltd. — US$25 million Guaranteed Floating Rate Notes due 1983.
5.The Long-Term Credit Bank of Japan Finance N.V. — US$60 million Guaranteed Floating Rate Notes due 1983.
[S 102/78]
[5.5.78]
Republic of Panama — US$30 million 9 1/ 2% Notes 1983.
United Overseas Bank Ltd. — US$25 million Floating Rate Notes due 1983.
6.The African Development Bank — US$40 million Floating Rate Notes due 1983.
[S 157/78]
[14.7.78]
The Asian Development Bank — Japanese Yen 15,000 million Bond Issue due September, 1988.
7.Bank of Tokyo (Curacao) Holding N.V. — US$30 million Guaranteed Floating Rate Notes due 1993.
[S 250/78]
[27.10.78]
Casio Computer Co. Ltd. — DM40 million 3 1/ 2% Convertible Bearer Debentures 1978/85.
8.Banque Nationale D’Algerie — US$25 million Floating Rate Notes 1985.
[S 265/78]
[24.11.78]
[S 10/79]
[19.1.79]
9.Sveriges Investeringsbank Aktiebolag (Swedish Investment Bank Limited) — SDR 25 million 9% Bonds due 1985.
[S 11/79]
[19.1.79]
10.United Overseas Bank Limited — US$25 million Floating Rate Notes due 1989.
[S 119/79]
[1.6.79]
11.Minolta Camera Co Ltd., of Japan — DM70 million 4% Deutsche Mark Convertible Bearer Bonds of 1979 (1989).
[S 128/79]
[22.6.79]
12.Orient Leasing (Caribbean) N.V. — US$25 million 9 1/2% Guaranteed Notes due 1986.
[S 197/79]
[14.9.79]
13.Société Nationale pour la Recherche, la Production, le Transport, la Transformation et la Commercialisation des Hydrocarbures — US$25 million Guaranteed Floating Rate Notes due 1987.
[S 221/79]
[19.10.79]
14.Republic of the Philippines — US$100 million Floating Rate Notes due 1986.
[S 246/79]
[30.11.79]
15.Bank of Tokyo (Curacao) Holding N.V. — US$50 million Guaranteed Floating Rate Notes due 1989.
[S 256/79]
[7.12.79]
16.Long-Term Credit Bank of Japan Finance N.V. — US$75 million Guaranteed Floating Rate Notes due 1986.
[S 11/80]
[18.1.80]
17.Meidensha Electric Manufacturing Co., Ltd. — US$20 million 7% Convertible Bonds due 1994.
[S 37/80]
[8.2.80]
18.The Fujikura Cable Works, Ltd. — US$15 million Guaranteed Floating Rate Notes due 1987.
[S 179/80]
[20.6.80]
19.The State Bank of India — US$30 million Floating Rate Notes due 1987.
[S 180/80]
[20.6.80]
20.The Nippon Credit Bank (Curacao) Finance N.V. — US$30 million Guaranteed Floating Rate Notes due 1987.
[S 181/80]
[20.6.80]
21.European Coal and Steel Community — US$40 million 11 1/2% Notes 1988.
[S 182/80]
[20.6.80]
22.Ente Nazionale Per L’Energia Elettrica — US$100 million Floating Rate Debentures due 1987, convertible at the holders’ option into 9 1/2% Fixed Rate Debentures due 1995.
Orient Leasing (Carribean) N.V. — US$30 million 12% Guaranteed Notes due 1985.
23.Long-Term Credit Bank of Japan Finance N.V. — US$25 million Guaranteed Floating Rate Notes due 1988.
[S 275/80]
[3.10.80]
[S 280/80]
[17.10.80]
24.Republic of Panama — US$25 million Floating Rate Notes due 1987.
[S 330/80]
[19.12.80]
25.Tokyu Corporation — US$70 million 7 3/4% Convertible Bonds due 1995.
Mitsui Real Estate Development Co., Ltd. — US$35 million 7 1/4% Convertible Bonds due 1996.
Banco De La Nacion Argentina — US$25 million Floating Rate Notes due 1987.
26.Minolta Camera Co., Ltd. — US$30 million 7 1/4% Convertible Bonds 1995.
[S 13/81]
[16.1.81]
[S 24/81]
[23.1.81]
27.The Australian Industry Development Corporation — US$14 million 9 1/ 2% Notes due 1983.
[S 27/81]
[23.1.81]
28.Ente Nazionale Per L’Energia Elettrica — US$100 million Floating Rate Debentures due 1987 Convertible at the holders’ option into 9 1/2% Fixed Rate Debentures due 1995.
[S 43/81]
[13.2.81]
29.Credit Lyonnais — US$30 million Floating Rate Notes due 11th September 1988.
[S 114/81]
[10.4.81]
30.Bank of Tokyo (Curacao) Holding N.V. — US$75 million Guaranteed Floating Rate Notes due 1991.
[S 140/81]
[24.4.81]
31.The Republic of Costa Rica — US$20 million Floating Rate Notes 1985.
Asian Development Bank — 15,000 million Japanese Yen 8 1/4% Japanese Yen Bonds of 1981, due 15th April 1991.
Banco de Chile — US$30 million Floating Rate Notes due 1986.
32.International Bank for Reconstruction and Development — Japanese Yen 20,000 million 83/ 4% Yen Bonds of 1981 due February 20, 1991.
[S 190/81]
[12.6.81]
[S 191/81]
[12.6.81]
33.The Korea Development Bank — US$30 million Floating Rate Notes due 1989.
[S 237/81]
[17.7.81]
34.Banco Nacional De Desarrollo — US$70 million Floating Rate Notes due 1987.
[S 270/81]
[14.8.81]
35.Hitachi Credit Corporation — US$40 million 5% Convertible Bonds due 1996.
[S 306/81]
[25.9.81]
36.Daiwa Securities Co. Ltd. — US$50 million 5 1/2% Convertible Bonds due 1996.
[S 325/81]
[9.10.81]
37.Sumitomo Finance (Asia) Limited — US$30 million Guaranteed Floating Rate Notes due 1988.
[S 335/81]
[23.10.81]
38.Petroleos Mexicanos — US$100 million Floating Rate Notes due 1988 (extendable at noteholder’s option to 1991, 1992 and 1993).
Minolta Camera Co., Ltd. — US$40 million 5% Convertible Bonds 1996.
39.Cómisión Federal de Electricidad — US$100 million Floating Rate Notes due 1988.
[S 346/81]
[6.11.81]
Tokyu Land Corporation — US$15 million 5 3/ 4% Convertible Bonds due 1996.
Korea Exchange Bank — US$30 million Floating Rate Notes due 1988.
40.Rhythm Watch Co., Ltd. — US$15 million 6% Convertible Bonds due 1997.
[S 383/81]
[18.12.81]
The Industrial Credit and Investment Corporation of India Limited — US$30 million Guaranteed Floating Rate Notes due 1991.
Sakai Heavy Industries, Ltd. — US$15 million 5 3/4% Convertible Bonds due 1996.
Banque Francaise Du Commerce Exterieur — USD125 million Guaranteed Floating Rate Notes due 1988.
HCA (Hospital Corporation of America) Finance N.V. — US$50 million 15 1/2% Guaranteed Notes due December 15, 1988.
41.Orient Finance Co., Ltd. — US$60 million 5 1/4 Convertible Bonds due 1997.
[S 39/82]
[19.2.82]
[S 55/82]
[12.3.82]
42.The Seiyu Stores, Ltd. — US$18 million 11% Guaranteed Bonds due 1987.
Best Denki Co., Ltd. — US$15 million 5 7/ 8% Convertible Bonds due 1997.
43.Japan Air Lines Company, Ltd. — US$ Denominated 7 7/8% Yen-Linked Guaranteed Notes 1987.
[S 100/82]
[16.4.82]
[S 135/82]
[21.5.82]
44.ASICS Corporation — US$12,500,000 7% Convertible Bonds due 1997.
[S 142/82]
[28.5.82]
45.Bank of Tokyo (Curacao) Holding N.V. — US$100 million Guaranteed Floating Rate Notes due 1991.
[S 164/82]
[18.6.82]
46.The Long-Term Credit Bank of Japan Finance N.V. — US$60 million Guaranteed Floating Rate Notes due 1992.
[S 191/82]
[2.7.82]
47.Keppel Shipyard Limited — US$50 million 6 3/4% Convertible Bonds due 1992.
[S 204/82]
[16.7.82]
48.Credit Lyonnais — US$200 million Floating Rate Notes due 1994.
[S 233/82]
[20.8.82]
49.Ente Nazionale per I’Energia Elettrica — US$100 million Floating Rate Debentures due 1989, convertible at the holders’ option into 13% Fixed Rate Debentures due 1992, guaranteed by the Republic of Italy.
[S 236/82]
[27.8.82]
50.Asian Development Bank — 15,000 million Japanese Yen 8 5/8% Bonds of 1982 due 10th August 1992.
[S 244/82]
[3.9.82]
51.European Investment Bank — 15,000 million Japanese Yen 8 1/4% Bonds due 1992.
[S 275/82]
[8.10.82]
52.CSR Limited — US$75 million 16% Notes 1989.
[S 286/82]
[22.10.82]
53.The Development Bank of Singapore Limited — US$75 million 15 1/2% Notes due August 12, 1989 and 75,000 warrants to purchase US$75 million 14 3/8% Notes due August 12, 1989.
[S 1/83]
[7.1.83]
54.Credit Foncier de France — US$60 million Floating Rate Notes due 1990.
[S 18/83]
[28.1.83]
55.Banque Nationale de Paris — US$150 million Floating Rate Notes due 1989.
[S 69/83]
[31.3.83]
56.Credit Lyonnais — US$150 million Floating Rate Notes due 1995.
[S 113/83]
[6.5.83]
57.Tokyu Land Corporation — US$40 million 7 3/4% Convertible Bonds due 1996.
[S 177/83]
[15.7.83]
58.Daiwa Securities Co., Ltd. — US$60 million 5 1/2% Convertible Bonds due 1998.
[S 222/83]
[23.9.83]
59.The Nippon Credit Bank (Curacao) Finance N.V. — US$100 million 11% Guaranteed Notes due 1990.
The Mortgage Bank and Financial Administration Agency of the Kingdom of Denmark — US$80 million Guaranteed Floating Rate Notes due 1990, Series 84.
Istituto per lo Sviluppo Economico dell’Italia Meridionale — US$70 million Floating Rate Notes due 1990.
Province de Quebec — US$50 million 10% Bonds due 1995.
60.International Bank for Reconstruction and Development — US$100 million 11% Notes 1983 due 1988.
[S 248/83]
[28.10.83]
[S 265/83]
[11.11.83]
61.Primary Industry Bank of Australia, Limited — A$30 million 14 1/ 4% Capital Bonds due August 1988.
[S 273/83]
[18.11.83]
62.The Development Bank of Singapore Limited — US$70 million 5 1/2% Convertible Bonds due 1998.
[S 281/83]
[25.11.83]
63.Sears Overseas Finance N.V. — US$50 million 11 1/4% Guaranteed Notes due 1989.
[S 21/84]
[1.2.84]
64.The Nomura Securities Co., Ltd. — US$100 million 6 1/4% Bonds due 1988.
[S 37/84]
[17.2.84]
65.Security Pacific Overseas Finance N.V. — US$75 million 11 5/8% Guaranteed Notes due 1989.
[S 38/84]
[17.2.84]
66.Asian Development Bank — 15,000 million Japanese Yen 7 3/8% Bonds due 1994.
[S 78/84]
[23.3.84]
67.European Investment Bank — US$150 million 11 5/8% Bonds due 1999.
[S 135/84]
[25.5.84]
68.The International Bank for Reconstruction and Development — US$100 million 12 5/ 8% Bonds due 1991.
[S 237/84]
[14.9.84]
69.The Citicorp Overseas Finance Corporation N.V. — US$100 million 11 1/ 2% Bonds due 1988.
[S 307/84]
[30.11.84]
70.Banque Nationale de Paris — US$125 million Floating Rate Notes due 1996.
Communaut urbaine de Montreal — US$50 million Floating Rate Notes due 1989.
71.International Bank for Reconstruction and Development — 20,000 million Japanese Yen 6 5/8% Bonds due 1994.
[S 5/85]
[4.1.85]
[S 14/85]
[11.1.85]
72.Credit Lyonnais — US$250 million Subordinated Floating Rate Notes due December 1999.
[S 49/85]
[1.3.85]
73.The International Bank for Reconstruction and Development — Canadian $75 million 12 1/2% Bonds due 1991.
[S 69/85]
[22.3.85]
74.Banca Nazionale Dell’Agricoltura S.p.A. — US$75 million Floating Rate Depositary Receipts due 1991.
[S 134/85]
[17.5.85]
75.Fuji Bank Limited — US$100 million Convertible Bonds due 2000.
[S 1/86]
[10.1.86]
76.National Bank of Hungary — US$100 million Floating Rate Notes due 2001.
[S 115/86]
[9.5.86]
77.Ajinomoto Co., Inc. — US$120 million 5 3/8% Bonds due 1990.
[S 120/86]
[9.5.86]
78.Hanwa Co., Ltd. — US$130 million 4 1/8% Guaranteed Notes due 1991 with warrants.
[S 201/86]
[8.8.86]
79.Development Bank of Singapore Ltd. — US$100 million 4% Subordinated Convertible Bonds due 2001.
[S 18/87]
[16.1.87]
80.Fujian Investment and Enterprise Corporation — US$50 million 8% Bonds due 1996.
Yamaichi Securities Company, Limited — US$40 million 4% Bonds with Warrants due 1996.
Yamaichi Security Company, Limited — US$30 million 3 1/4% Bonds with Warrants due 1993.
Daiwa Securities Company, Limited — US$120 million 2 5/8% Bonds with Warrants due 1991.
81.C. Itoh 30 Co., Ltd. — US$500 million 2 1/4% Notes due 1992 with Warrants to subscribe for shares of common stock.
[S 111/87]
[3.4.87]
[S 275/87]
[23.10.87]
82.Nippon Shinpan Co., Ltd. — US$400 million 1 3/8% Guaranteed Bonds 1992 with Warrants to subscribe for shares of common stock.
[S 280/87]
[30.10.87]
83.US$300 million 2% Guaranteed Notes due 1992 by Marubeni Corporation unconditionally and irrevocably guaranteed by the Fuji Bank, Limited.
[S 305/87]
[20.11.87]
84.Hanwa Co., Ltd. — US$190 million 3 ¼% Guaranteed Notes due 1992 with Warrants.
[S 1/88]
[8.1.88]
85.Yasuda Fire and Marine Insurance Company, Limited — US$150 million 2 1/ 4% Bonds due 1992 with Warrants.
[S 18/88]
[29.1.88]
86.Nippon Credit Bank, Ltd. — US$150 million 1 3/4% Convertible Bonds 2002.
[S 59/88]
[18.3.88]
87.Sanwa Bank, Limited — US$300 million 1 3/4% Convertible Bonds due 2002.
[S 67/88]
[25.3.88]
88.China International Trust and Investment Corporation (Holdings) — Japanese Yen 15,000 million 5 1/4% Notes due 1993.
[S 232/88]
[2.9.88]
89.Nomura Securities Co., Ltd. — US$200 million 4 3/8% Bonds due 1993 with Warrants.
[S 87/89]
[10.3.89]
90.NKK Corporation US$700 million 4 1/8% Notes due 1992 with Warrants.
[S 155/89]
[14.4.89]
91.Nippon Telegraph and Telephone Corporation US$250 million 9 1/2% Notes due 1995.
[S 198/89]
[12.5.89]
92.Canon Inc. US$1,000 million 4 1/8% Notes 1993 with Warrants.
[S 304/89]
[14.7.89]
93.Nissho Iwai Corporation — US$800 million 4 1/8% Bonds due 1993 with Warrants.
[S 346/89]
[18.8.89]
94.Asahi Glass Company, Limited — US$600 million 4 1/8% Notes 1993.
[S 378/89]
[8.9.89]
95.Far East-Levingston Shipbuilding Limited — US$80 million 1.25% Unsecured Bonds due 1994 with Warrants.
[S 416/89]
[20.10.89]
96.Nippon Shinpan Co., Ltd. US$250 million 2 3/4% “A” Guaranteed Bonds 1991 with “A” Warrants.
[S 463/89]
[1.12.89]
97.Nippon Shinpan Co., Ltd. US$50 million 2 3/4% “B” Guaranteed Bonds 1991 with “B” Warrants.
98.Kobe Steel, Ltd. US$600 million 4% Bonds 1993 with Warrants.
[S 490/89]
[22.12.89]
99.Olympus Optical Co., Ltd. US$300 million 4% Notes 1993 with Warrants.
100.Nippon Shinpan Co., Ltd., US$450 million 4 3/8% Guaranteed Bonds 1993 with Warrants.
[S 74/90]
[23.2.90]
101.Nisshin Steel Co., Ltd. US$600 million 3 3/4% Bonds due 1993 with Warrants.
102.Federal Business Development Bank Can. $50 million 9 1/2% Notes due July 23, 1991.
[S 90/90]
[2.3.90]
103.Asahi Glass Company, Limited US$250 million 3% Notes 1992 with Warrants.
104.DBS Land Limited US$75 million 1% Bonds due 1995 with Warrants.
[S 108/90]
[16.3.90]
105.Bank Negara Indonesia 1946 US$50 million Floating Rate Notes due 1994.
[S 117/90]
[23.3.90]
106.Marubeni Corporation US$800 million 4% Notes due 1993 with Warrants.
[S 163/90]
[20.4.90]
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