Court : Singapore Supreme Court
..... the amended 1986 bill was passed by the companies (amendment) act (act no 13 of 1987) ("the 1987 amendment act"). ..... this was explained by the then minister for finance, dr richard hu tsu tau ("dr hu") (see the report of the select committee on the companies (amendment) bill (bill no 9/86) (parl 5 of 1987, 12 march 1987) ("the select committee report") in the following terms at p d 69: the purpose of this amendment is to better reflect the intention of the section by incorporating in it the concepts that appear in section 368 of the act. ..... although the drafting of s 365 is infelicitous, parliament's intention may be given effect through a construction that accords with the purpose of the amendment of the section in 1987. ..... parliament's intention, as evidenced by the original version of s 365 as well as the proposed rewording of that section in the 1986 bill prior to the amendments by the select committee (see above at [35(c)]- [35(d)]), was that the provisions in division 2 should apply to companies which intended to establish a place of business or carry on business in singapore and would have been liable to register under s 368 of the act. ..... the judge placed considerable emphasis on the deletion of the word "only" in s 365 by the 1987 amendment act. .....
Tag this Judgment!Court : Singapore Supreme Court
..... although the word "object" rather than "purpose" was used in s 28(1) of the finance act 1960, the judge concluded that s 33(3)(b) of the act should be likewise interpreted as requiring an inquiry into the subjective reasons of the taxpayer for carrying out the arrangement and the subjective intentions of the taxpayer in determining whether the arrangement had ..... first, even if the comptroller had taken the view that there was nothing in itself objectionable about the corporate restructuring, as we have discussed above, the corporate restructuring and financing arrangement were in substance an integrated scheme, and we do not think that the only reasonable way of counteracting the tax advantage was to focus solely on the interest expenses that reduced the ..... that formalistic compliance with the conditions in specific statutory provisions would preclude the operation of s 99 (at 164h-165a) and instead drew a distinction between tax mitigation and tax avoidance (at 168d-f): section 99 does not apply to tax mitigation where the taxpayer obtains a tax advantage by reducing his income or by incurring expenditure in circumstances in which the taxing statute affords a reduction in tax liability. ..... the present s 33 was enacted in 1988 by the income tax (amendment) bill (no 22 of 1987) ("the bill") and was intended to represent a substantial departure from the previous s 33 ("the old s 33") of the income tax act (cap 134, 1985 rev ed), which stated as follows: comptroller may disregard .....
Tag this Judgment!Court : Singapore Supreme Court
..... section 14(1) of the uk finance act 1894 which is in pari materia with s 29(1) of the 1970 eda allows a beneficiary who has paid the estate duty (either in full or in part) to recover a ..... case of fraud or mistake 29(1) where, in the case of any action for which a period of limitation is prescribed by this act (a) the action is based upon the fraud of the defendant or his agent or of any person through whom he claims or his agent; (b) the right of action is concealed by the fraud of any such person as aforesaid; ..... d2 for fraudulent misrepresentation would have been susceptible to the statutory time bar in s 6(1)(a) read with s 29 of the la: limitation of actions of contract and tort and certain other actions 6(1) subject to this act, the following actions shall not be brought after the expiration of 6 years from the date on which the cause of action accrued: (a) actions founded on a contract or on tort; postponement of limitation period in ..... september 1993, yandl sent the commissioner an amended estate duty affidavit duly signed by the ..... counsel's closing speech (see the gold ores reduction company v parr [1892] 2 qb 14; novotel societe d' investissements et d' exploitation hoteliers v pernas hotel chain (selangor) bhd [1987] 1 mlj 210 at 214 and spedding v fitzpatrick (1888) 38 ch d 410). ..... sometime after 8 july 1987, ng lee and associates, a firm of accountants, was appointed .....
Tag this Judgment!Court : Singapore Supreme Court
..... circumstances of the formation or performance of the illegal transaction, including the intent, knowledge, conduct and relationship of the parties; (g) whether any party to the illegal transaction was, at a material time, acting under a mistake or fact or law; (h) the extent to which the illegal transaction has been performed; (i) whether the written law which renders the transaction illegal has been substantially complied with; ..... by themselves show an illegal object, have been revealed in evidence (because, perhaps, no objection was raised or because they were adduced for some other purpose), the court should not act on them unless it is satisfied that the whole of the relevant circumstances are before it; but, fourthly, that, where the court is satisfied that all the relevant facts are before ..... not void and unenforceable for illegality at common law since the illegal manner in which the respondents intended to procure financing was too remote from the contract and the respondents did not need to rely on the backdating to found their ..... bingham lj (as he then was) observed in the english court of appeal decision of saunders v edwards [1987] 1 wlr 1116 at 1134: where issues of illegality are raised, the courts have (as it ..... on 5 october 2012, the mas issued an amendment to mas notice no 632 ("the 5 october notice"), the effect of which was that the ltv ratio of the respondents' proposed ..... section of this judgment on contracts entered into with the object of committing an illegal .....
Tag this Judgment!Court : Singapore Supreme Court
..... . in coming to the same conclusion, the judge considered the following factors (which included the "badges of trade") and weighed them in balance: (a) motive of the taxpayer; (b) duration of ownership; (c) multiplicity of disposal of the shares; (d) finances; (e) findings by an earlier board; (f) earlier tax treatment; (g) placement of the shares in insurance funds; and (h) the consideration of the shares in calculating the solvency margin of the respondent's insurance funds. 51 ..... the ita is intended "to impose a tax upon incomes and to regulate the collection thereof'.1 the charging provision is s 10(1) of the ita which provides: charge of income tax income tax shall, subject to the provisions of this act, be payable at the rate or rates specified hereinafter for each year of assessment upon the income of any person accruing in or derived from singapore or received in singapore from outside singapore in respect of - (a) gains or profits from any trade, ..... on 15 april 2010, in response to the respondent's request for amendment, the appellant issued to the respondent a notice of refusal to amend the assessments for ya 2002 and ya 2003. 7. ..... . section 65(2)(a) of the new zealand income tax act 1976 ("the new zealand act") taxed "all profits or gains derived from any business", which is very similar to s 10(1)(a) of the ita which taxes "gains or profits from any trade [or] business" .....
Tag this Judgment!Court : Singapore Supreme Court
..... road, singapore, when driving motor car sjx9064l, did fail to obey [the] traffic indicating sign and dr[o]ve against the flow of traffic and you have thereby committed an offence under section 120(4) of the road traffic act, chapter 276, and punishable under section 131(2) of the same act. ..... phrase "driving against the flow of traffic" does not appear in s 120 of the act, which only makes reference to a "[d]uty to comply with traffic directions and traffic signs ..... in edwin s/o suse nathen, menon cj (at [22]) held that sentencing for offences under s 67(1)(b) of the act should typically begin from "neutral starting points based on the relative seriousness of the offence considering only the level of alcohol in the offender's blood or breath and not yet ..... the appellant was also charged with an offence under s 120(4) of the act ("the directional offence"), which criminalises the failure to comply with traffic directions and traffic signs, and is, for first-time offenders, punishable by a fine not exceeding $1,000 or ..... it was argued that in this case, the directional offence involved an act of dangerous driving and was an aggravating factor in determining the appropriate sentence for the drink-driving offence ( ..... as a result, the appellant was charged with an offence under s 67(1)(6) of the act ("the drink-driving offence"), which criminalises driving while under the influence of drink, and is punishable by: (a) in the case of a first-time offender, a fine of not less than $1,000 and .....
Tag this Judgment!Court : Singapore Supreme Court
..... important as the public interest in enforcing a judgment, yet parties have no right to summon witnesses from abroad for that purpose (at [23]); (f) the court's power to examine company officers under r 71.2 is derived from an amendment to the english rules of the supreme court in 1883, and the rules committee in 1883 was likely to have been focusing on domestic judgments and domestically based officers (at [24] ); (g) the extreme informality of the process prescribed ..... in question is in fact the alter ego of the company (as was the case in the ikarian reefer) or possibly where there is clear evidence that the officer in question "instigates, controls and finances" the litigation brought in the name of the corporate party to such a degree that it would be unjust to allow him to rely upon the separate corporate personality, any attempt to characterise company officers ..... that the court might have such jurisdiction in a case where the non-party had instigated, controlled and financed the proceedings brought in the name of the company: the principle underlying the jurisdiction (so far as relevant) under gcr o 11 r 9(2) to be derived from masri is that where a person (b) instigates, controls and finances proceedings brought in the name of a, there may be circumstances in which it is legitimate to assimilate the ..... (d) section 6(1) of the international arbitration act (cap 143a, 2002 rev ed) did not apply because proceedings instituted under the escrow agreement did not fall within the scope .....
Tag this Judgment!Court : Singapore Supreme Court
..... the court of appeal (lord denning mr dissenting) held that the defendant had failed to discharge its burden of proof under section 2(1) of the act because it had not shown any objectively reasonable ground to prefer the carrying capacity given in lloyd's register, even though it was ordinarily reliable, over the carrying capacity given in the manufacturer's own documents (at 598f). ..... it was only in the plaintiff's second amendment filed on 25 april 2012 that the plaintiff added a prayer that the court declare that the plaintiff had already rescinded the letter of offer and sub-lease ..... an act of rescission is an unequivocal act of election by the plaintiff, not the defendant: see car and universal finance co. ..... the defendant's misrepresentation which was the proximate cause of the plaintiff's decision to borrow money and incur interest charges or the plaintiff's deliberate decision as to how most effectively to deploy its capital which caused it to seek financing for its fitting out costs. ..... in particular, there was no evidence that the plaintiff's financial circumstances were such that it was compelled to borrow money to finance the fitting out works. ..... that leaves the plaintiff's claim to recover the sum of $78,216.88 being interest charges it incurred in respect of a loan it took to finance the fitting-out works. ..... these sums include stamp duty, utilities charges, its wasted fitting out costs, its reinstatement costs and interest on a bank loan it took out to finance the fitting out works. .....
Tag this Judgment!Court : Singapore Supreme Court
..... further hearing on 14 november 2012, the ar "invited" park regis to consider further aligning its proposed amendments (found in 1st draft soc-2) in line with its submissions on the alleged breaches of the oa. ..... in the united kingdom it was held in bryanston finance ltd v de vries [1975] qb 703 ("bryanston finance") that the effect of s 6(1)(a) of the law reform (married women and tortfeasors) act 1935 (c 30) (uk) was to abolish the old common law rule that a cause of action against two or more joint tortfeasors merged in the first judgment recovered against any one of them even though that ..... section 6(1)(a) was subsequently replaced in the uk by s 3 of the civil liability (contribution) act 1978 ("the uk act ..... " clause 4.10 is contained in a section of the oa generally entitled "[park regis] duties and operation of ..... " both of these sections comprise essentially arguments that the ar was wrong to have drawn the conclusion that any loss was caused by park regis decision to enter into the ra and that the ar's interpretation of the scope and ..... for example, section b of sim-13 is entitled: "the plaintiff was prevented from entering the hotel premises and could not operate ..... for example, section a of sim-13 is entitled: "the malaysian courts did not grant an injunction against the sale of ..... the section sets out nothing new except to underscore that no final injunction was granted by the malaysian courts since park regis had withdrawn the application and that there was no certainty in any case .....
Tag this Judgment!Court : Singapore Supreme Court
..... court may, with a view to bringing to an end or remedying the matters complained of, make such order as it thinks fit and, without prejudice to the generality of the foregoing, the order may (a) direct or prohibit any act or cancel or vary any transaction or resolution; (b) regulate the conduct of the affairs of the company in future; (c) authorise civil proceedings to be brought in the name of or on behalf of the company by such person or ..... well-illustrated in larsen oil, where the court of appeal observed, in relation to the claim based on s 73b of the conveyancing and law of property act (cap 61, 1994 rev ed) ("clp a"), that it "is one that may straddle both a company's pre-insolvency state of affairs, as well as ..... . may apply to the court for an order under this section on the ground (a) that the affairs of the company are being conducted or the powers of the directors are being exercised in a manner oppressive to one or more of the members or holders of debentures including himself or in disregard of his or their interests as members, shareholders or holders of debentures of the company; or (b) that some act of the company has been done or is threatened or ..... . in arriving at this outcome, the court relied on the decision of desputeaux v editions chouette (1987) inc [2003] 1 scr 178 ("desputeaux"), where label j analysed the approach that courts should take in determining whether a particular subject matter was ..... gained control over the finances of the respondent and .....
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