2.—(1) CapitaRetail China Development Fund is hereby granted exemption from tax on the dividend income received in Singapore from CapitaRetail China Developments (B) Pte Ltd.
(2) The exemption under sub-paragraph (1) —
(a)
is subject to the terms and conditions specified in the letter of approval dated 28th March 2011 addressed to the tax agent of CapitaRetail China Development Fund; and
(b)
applies to dividend income received on or after 10th January 2011.