Singapore legislation
Regulation 2
Regulation 2
Definitions
Subregulation 1
In these Regulations, unless the context otherwise requires —
Definition
“date of initial application” means the first day of a basis period in which a qualifying person prepares or maintains the qualifying person’s financial accounts in accordance with FRS 109 or SFRS(I) 9 for the first time;
Definition
“FRS 12” means the financial reporting standard known as Financial Reporting Standard 12 (Income Taxes) that is made, and amended from time to time, under Part 3 of the Accounting Standards Act 2007;
Definition
“FRS 39” means the financial reporting standard known as Financial Reporting Standard 39 (Financial Instruments: Recognition and Measurement) that is treated as made by the Accounting Standards Committee under Part 3 of the Accounting Standards Act 2007, as amended from time to time;
Definition
“FRS 109” means the financial reporting standard known as Financial Reporting Standard 109 (Financial Instruments) that is made, and amended from time to time, under Part 3 of the Accounting Standards Act 2007;
Definition
“initial year of assessment”, in relation to a qualifying person, means the year of assessment for the basis period in which the person’s date of initial application falls;
Definition
“qualifying person”, in relation to any year of assessment, has the meaning given by section 34AA(15) of the Act;
Definition
“SFRS(I) 1-12” means the financial reporting standard known as Singapore Financial Reporting Standard (International) 1-12 (Income Taxes) that is made, and amended from time to time, under Part 3 of the Accounting Standards Act 2007;
Definition
“SFRS(I) 9” means the financial reporting standard known as Singapore Financial Reporting Standard (International) 9 (Financial Instruments) that is made, and amended from time to time, under Part 3 of the Accounting Standards Act 2007.
Subregulation 2
Any term used in these Regulations and not defined in these Regulations but defined in FRS 39, FRS 109 or SFRS(I) 9, has the meaning given by FRS 39, FRS 109 or SFRS(I) 9, as the case may be.