On 24/05/2013,
you requested for the version in force on 24/05/2013
incorporating all amendments published on or before 24/05/2013.
The closest version currently available is that of 05/11/2003.
3.
—(1) Subject to sub-paragraphs (3) and (4), there shall be exempt from tax any specified payments which an institution specified in Part I of the Schedule is liable to pay on or after 23rd November 2001 but before 28th October 2003 under a securities lending or repurchase agreement to a person who is neither a resident of nor a permanent establishment in Singapore.
(2) Subject to sub-paragraphs (3) and (4), there shall be exempt from tax any specified payments which an institution specified in Part II of the Schedule is liable to pay on or after 28th October 2003 under a securities lending or repurchase agreement to a person who is neither a resident of nor a permanent establishment in Singapore.
(3) The exemptions referred to in sub-paragraphs (1) and (2) in relation to specified payments which are loan rebate fees or price differentials shall not apply unless the institution which entered into the securities lending or repurchase arrangement entered into such securities lending or repurchase arrangement as principal.
(4) The exemptions referred to in sub-paragraphs (1) and (2) in relation to specified payments which are interest payments shall not apply unless —
(a)
the institution which entered into the securities lending or repurchase arrangement entered into such securities lending or repurchase arrangement as principal; and
(b)
the interest payments are derived from moneys held on deposit in a bank in Singapore, where the moneys for the deposit are from collateral placed by the person (who is neither a resident of nor a permanent establishment in Singapore) with the institution.