Singapore legislation
Regulation 37
Regulation 37
Useful life
Subregulation 1
The useful life of any nationally significant infrastructure has to be worked out by estimating the period that the nationally significant infrastructure can be used by anyone for its intended purpose or purposes, being a purpose described in paragraph (b) of the definition of “nationally significant infrastructure” in section 2 of the Significant Infrastructure Government Loan Act 2021, that period starting no later than the time the nationally significant infrastructure is expected to be available and in a condition for use, for its intended purpose or purposes.
Subregulation 2
The useful life of any related facility for any nationally significant infrastructure has to be worked out separately from that of the nationally significant infrastructure.
Subregulation 3
In making that estimate under paragraph (1) or (2), the following assumptions must be made:
the nationally significant infrastructure or related facility (as the case may be) will be subject to wear and tear at a rate that is reasonable to expect having regard to the expected circumstances of its use;
the nationally significant infrastructure or related facility (as the case may be) will be maintained in reasonably good order and condition.
Subregulation 4
However, any estimate under paragraph (1) or (2) of the useful life of —
any nationally significant infrastructure must not be less than 50 years and must not exceed 70 years; and
any related facility of a nationally significant infrastructure may be less than 50 years.
Subregulation 5
It is the duty of the Accounting Officer of an infrastructure project participant of an infrastructure project that is ongoing on, or starts on or after, 3 August 2021, to estimate the useful life of any nationally significant infrastructure resulting from that project, and every related facility of the nationally significant infrastructure.