Singapore legislation
Regulation 34
Regulation 34
Recognition as an asset
Subregulation 1
An item of nationally significant infrastructure expenditure incurred by the Government may be capitalised using estimated amounts but only where this can be measured reliably.
Subregulation 2
An item of nationally significant infrastructure expenditure that is capitalised in a financial year in any circumstances described in paragraph (1) or regulation 33(1) —
is subject only to depreciation, impairment loss and disposal; and
must not be subsequently adjusted by an increase in any later financial year except on a reversal of impairment loss.
Subregulation 3
To avoid doubt, paragraph (2) does not prevent any of the following adjustments so as to ensure a complete and accurate capitalisation in accordance with this Part:
an adjustment in a financial year to any item of nationally significant infrastructure expenditure that is capitalised in the same financial year;
a downward adjustment in a financial year to any item of nationally significant infrastructure expenditure that is capitalised in an earlier financial year.