It is hereby declared that, subject to the conditions specified in the letter of approval dated 9th October 2006, the provisions in the accounts of The Industrial Bank of Japan Limited Singapore Branch which have been transferred to Mizuho Corporate Bank Limited Singapore Branch —
shall not be deemed under section 14I(2)(b) of the Act
to be a trading receipt of The Industrial Bank of Japan Limited Singapore Branch; and
shall for the purposes of section 14I of the Act
be treated as having been allowed to Mizuho Corporate Bank Limited Singapore Branch as a deduction under that section.