1    New s 13Q with effect from 17 February 2006 - tax exemption on certain income of a prescribed locally administered trust and of a prescribed holding company established for the purposes of such trust. Where such income is exempt from tax, the share of such income to which a beneficiary of the trust is entitled to receive is also exempt;  
2    Section 130L implements the proposal of the Review Committee on Joint Law Ventures and Formal Law Alliances to allow foreign lawyers to own equity shares in Singapore law firms subject to a 25 per cent limit and other conditions.  
3    Various other changes and clarifications have been made to the provisions of Part IXA to update the existing legal framework for the regulation of foreign lawyers and to enhance the powers of the Attorney-General to deal with errant foreign law firms and foreign lawyers. These include: 4    New s 34A with effect from 1 January 2005 - to provide for changes to the basis of computing profits of financial instruments arising from the adoption of FRS 39 by companies in Singapore;  
5    New s 34B with effect from 17 February 2006 - to provide for the tax treatment of prescribed Islamic financing arrangements. Sections 10, 12, 13, 14, 15 and 45 and regulations made under s 43Q shall apply to such arrangements as if a reference to interest were a reference to the prescribed return in lieu of interest (the effective return) under such arrangement. The effective return is to be excluded in determining the consideration for the sale and purchase of any asset under such arrangement;  
6    Amended s 43N with effect from 17 February 2006 - to extend the 10 per cent concessionary tax rate to a discount derived by a company from qualifying debt securities which are issued during the period from 17 February 2006 to 31 December 2008 and which have a tenure of more than one year, subject to conditions;  
7    New s 43W with effect from 1 March 2006 - to enable regulations to be made to levy a concessionary tax rate of five per cent upon specified income derived on or after 1 March 2006 by an approved shipping investment manager from managing an approved shipping investment enterprise or from other prescribed services or activities carried out for such enterprise, subject to conditions.

1    Building Maintenance and Strata Management Act 2004.  
2    Business Trusts Act.  
3    Charities Act. 4    Companies Act.  
5    Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.  
6    Customs Act.  
7    Financial Advisers Act. 8    Income Tax Act.  
9    Limited Liability Partnerships Act 2005.  
10    Money-changing and Remittance Businesses Act. 11    Moneylenders Act.  
12    Pawnbrokers Act.  
13    Securities and Futures Act.  
14    Trust Companies Act.

1    Financial Advisers (Amendment) Regulations 2007 (S58/2007).  
2    Securities and Futures (Approved Holding Companies) (Amendment) Regulations 2007 (S59/2007).  
3    Securities and Futures (Clearing Facilities) (Amendment) Regulations 2007 (S60/2007). 4    Securities and Futures (Markets) (Amendment) Regulations 2007 (S61/2007).  
5    Moneylenders (Amendment No 2) Rules 2007 (S63/2007).  
6    Pawnbrokers (Amendment) Rules 2007 (S64/2007).