any information required for the performance of the official duties of the chief executive officer or authorised officer in administering the public scheme known as the wage credit scheme or any other public scheme prescribed under section 7; and (b) may allow the chief executive officer or authorised officer such access to any records or documents as may be necessary for the performance of those official duties.”. [25/4/13] Amendment of section 8A 4. Section 8A of the principal Act is amended — (a) by inserting, immediately the word “document” in subsection (1)(a), the words “, and the provision of information to the Comptroller under section 65B(3)”; (b) by deleting the word “Any” in subsection (3) and substituting the words “Subject to sections 45(1B) and 45D(2A), any”; (c) by inserting, immediately after the word “document” in subsection (4), the words “, or provide any information to the Comptroller,”; (d) by inserting, immediately after the word “is filed or submitted” in subsections (5) and (6), the words “, or information is provided,”; (e) by deleting the words “have been filed or submitted” in subsections (5)(a) and (6)(a) and substituting in each case the words “filed, submitted or provided”; (f) by deleting the words “statement or document” in subsection (6)(a) and substituting the words “statement, document or information”; (g) by inserting, immediately the words “statement or document” in subsection (6)(b), the words “, or provide the information”;
than 75% of the total number of ordinary shares in the target company; (ii) the date of the acquisition does not fall in in the same basis period of the acquiring company as the date of the acquisition referred to in paragraph (c); and (iii) before 1 April 2015 and not earlier than 12 months before the acquisition, the acquiring company or its acquiring subsidiary had made an acquisition of ordinary shares of any amount in the target company; (f) any other acquisition the date of which falls in the same basis period of the acquiring company as that of the acquisition referred to in paragraph (e) and is before 1 April 2016. (4B) In subsection (4A), the conditions are: (a) in the case of paragraphs (a) and (b) of that subsection, at the end of that basis period of the acquiring company, the total ownership of ordinary shares in the target company referred to in paragraph (a) of that subsection is between 20% and 50% (both inclusive); (b) in the case of paragraphs (c) and (d) of that subsection, at the end of that basis period of the acquiring company, the total ownership of ordinary shares in the target company referred to in paragraph (c) of that subsection is more than 50%; (c) in the case of paragraphs (e) and (f) of that subsection, at the end of that basis period of the acquiring company, the total ownership of ordinary shares in the target company referred to in paragraph (e) of that subsection is 75% or more.”;
(i) allowances under section 19, 19A, 20, 21, 22 or 23 and any expenses and donations allowable under this Act are to be deducted; and (ii) any loss may be deducted under section 37. (9) In this section — “approval period”, in relation to an approved international growth company, means the period of its approval as such a company under subsection (3); “concessionary period”, in relation to a qualifying activity of an approved international growth company, means the concessionary period specified for that activity under subsection (4) or (5); “international growth company” a company incorporated and resident in Singapore which carries on, or which intends to carry on, a trade or business which involves — (a) the export of goods to a country outside Singapore; or (b) the performance of services in a country outside Singapore, whether or not it also carries on or intends to carry on any other trade or business; “qualifying activity”, in relation to an approved international growth company, a qualifying activity specified for the company under subsection (4) or (5).”. [1/4/15] Amendment of section 45 35.—(1) Section 45 of the principal Act is amended — (a) by deleting “20%” in subsections (1)(a)(i) and (2)(b) and substituting in each case “22%”; (b) by deleting the “in writing” in subsection (1)(b);
(h) by inserting, immediately after the words “subsection (3)(a) or (c)” in subsection (11)(a)(ii), the words “or (5)(a), (b) or (d)”; (i) by inserting, immediately after the words “subsection (4)(b)” wherever they appear in subsection (11)(b), the words “or (6)(b)”; (j) by inserting, immediately the words “subsection (4)(c)” in subsection (11)(c), the words “or (6)(c)”; (k) by inserting, immediately after the words “subsection (4)(b) or (c)” in subsections (11A) and (18)(a), the words “or (6)(b) or (c)”; (l) by inserting, immediately after subsection (18), the following subsection: “(18A) Without affecting the generality of subsection (18)(b), the Minister may, in the case of a qualifying acquisition referred to in subsection (5), prescribe such conditions as the Minister considers necessary to ensure that the acquiring company or acquiring subsidiary is not merely a passive shareholder of the target company, including requiring the company or subsidiary to exert significant influence (within the meaning of FRS 28, or SFRS for Small Entities, as amended from time to time) over the target company.”; (m) by inserting, immediately after the definition of “financial year” in subsection (19), the following definition: “ “FRS 28” means the financial reporting standard known as Financial Reporting Standard 28 (Investments in Associates and Joint Ventures) made by the Accounting Standards Council under Part III of the Accounting Standards Act (Cap. 2B)”; and (n) by inserting, immediately after the definition of “holding company” in subsection (19), the following definition: