Exemption
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.