Singapore legislation
Regulation 30
Regulation 30
Definitions for this Part
Subregulation 1
In this Part —
Definition
“approved infrastructure project” means an infrastructure project approved by the Minister in accordance with section 11 of the Significant Infrastructure Government Loan Act 2021;
Definition
“arrangement” includes a contract, an agreement or other arrangement of any kind, whether under a written law or otherwise;
Definition
“asset” means any qualifying capital expenditure relating to an infrastructure project and recognised as an asset in accordance with this Part;
Definition
“capitalise” means to recognise as an asset;
Definition
“carrying amount” is the amount at which an asset is recognised after deducting any accumulated depreciation and accumulated impairment losses;
Definition
“depreciation”, in relation to any asset, is the allocation of the depreciable amount of that asset over its useful life;
Definition
“impairment loss” means the amount by which the carrying amount of an asset exceeds its recoverable amount;
Definition
“infrastructure project” means a project involving any one or more of the following matters:
the construction or acquisition of any nationally significant infrastructure;
the building, installation or acquisition of any related facility of a nationally significant infrastructure;
the improvement, extension, enlargement or replacement of any nationally significant infrastructure or related facility of a nationally significant infrastructure where the improvement, extension, enlargement or replacement significantly —
increases the capacity or reliability of the nationally significant infrastructure;
increases the useful life of the nationally significant infrastructure; or
reduces previously assessed operating costs of the nationally significant infrastructure,such that the nationally significant infrastructure has or has left, or is reasonably expected to have or have left, a useful life of at least 50 years upon the completion of the infrastructure project, and includes a phase or stage of an infrastructure project if expressly planned for at the start of the infrastructure project;
Definition
“infrastructure project participant”, for any infrastructure project, means —
the department, ministry or Organ of State of the Government to which responsibility for carrying out the infrastructure project (or any part of the project) is assigned; or
a public authority carrying out the infrastructure project as an agent or otherwise on behalf of the department, ministry or Organ of State of the Government mentioned in paragraph (a);
Definition
“nationally significant infrastructure” has the meaning given by section 2 of the Significant Infrastructure Government Loan Act 2021;
Definition
“nationally significant infrastructure expenditure”, in relation to an infrastructure project, means any capital expenditure incurred by the Government, on or after 3 August 2021 —
wholly or substantially for the purpose of any infrastructure project participant of the infrastructure project carrying on the infrastructure project; or
in connection with —
the acquisition of any right or interest in respect of the use of any invention, required in respect of or in connection with any matter in paragraph (a), (b) or (c) of the definition of “infrastructure project”;
any associated design, investigative and engineering studies, survey or research preparatory to the undertaking of any matter in paragraph (a) or paragraph (a), (b) or (c) of the definition of “infrastructure project”; or
any works directly attributable to bringing the nationally significant infrastructure and its related facilities to the location and condition necessary for the nationally significant infrastructure to operate for its intended purpose or purposes;
Definition
“past reserves of the Government” has the meaning given by Article 142(4) of the Constitution;
Definition
“recoverable amount”, for an asset, means the higher of the asset’s fair value less costs of its disposal and its value‑in‑use;
Definition
“reimbursement arrangement” means an arrangement —
between the Government and an infrastructure project participant of an approved infrastructure project; and
to the effect that the Government is liable to pay a grant to the infrastructure project participant to reimburse the infrastructure project participant for the whole or part of the cost and expenses incurred by the infrastructure project participant for carrying on the approved infrastructure project;
Definition
“related facility”, for any nationally significant infrastructure, has the meaning given by section 2 of the Significant Infrastructure Government Loan Act 2021;
Definition
“useful life”, for any thing, means the period worked out in accordance with regulation 37.
Subregulation 2
In this Part, any reference to any nationally significant infrastructure expenditure incurred by the Government in relation to an approved infrastructure project includes a reference to any nationally significant infrastructure expenditure that is payment by the Government —
to an infrastructure project participant of the approved infrastructure project;
made under a reimbursement arrangement between the Government and the infrastructure project participant; and
covering only qualifying capital expenditure incurred by the infrastructure project participant in relation to that approved infrastructure project.
Subregulation 3
In this Part, nationally significant infrastructure expenditure is taken to be incurred by the Government in relation to an approved infrastructure project in the financial year that the resulting nationally significant infrastructure is first expected to be available and in a condition necessary for it to be ready for use for its intended purpose or purposes, when the liability to pay the cost arising in respect of the approved infrastructure project is recognised, regardless that the cost may be due and actually unpaid.