Singapore legislation

Section 5

of Political Donations Act 2000

Section 5

Value of donations

(1)

The value of any donation that is a gift to a candidate, an election agent or a political association is the market value of the property in question.

(2)

Where any donation, being money or property, is transferred to a candidate, an election agent or a political association for a consideration that is less than the value of the money or market value of the property, the value of the donation is taken to be the difference between —

(a)

the value of the money, or the market value of the property, in question; and

(b)

the consideration provided by or on behalf of the candidate, election agent or political association, as the case may be.

(3)

The value of any donation, being —

(a)

any money lent to a candidate, an election agent or a political association otherwise than on commercial terms; or

(b)

the provision otherwise than on commercial terms of any property, services or facilities (including the services of any person),is taken to be the amount representing the difference between —

(c)

the actual cost (if any) to the candidate, election agent or political association; and

(d)

the cost that would have been incurred by the candidate, election agent or political association (as the case may be) had the loan been made, or the property, services or facilities been provided, on commercial terms.

(4)

The value of any donation, being the provision of any sponsorship in relation to a candidate or political association, is taken to be the value in monetary terms of the benefit conferred by the sponsorship in question on the candidate or association; and any such value conferred on the sponsor must be disregarded.

(5)

Where a donation mentioned in subsection (3) or (4) confers an enduring benefit on any candidate, election agent or political association during the whole or part of the relevant reporting period, the amount to be recorded in any donation report required to be prepared under this Act is so much of the total value of the donation (as determined in accordance with subsection (3)) as accrues during the whole or part of that relevant reporting period to which the donation report relates.

(6)

In subsection (5), “relevant reporting period” means —

(a)

any period for which a donation report is required to be prepared under this Act; or

(b)

2 or more such periods.

Read in full context — Political Donations Act 2000 →