Singapore legislation
Regulation 5
Regulation 5
Meaning of “applicable finance lease”
Subregulation 1
In this Notification, an applicable finance lease is a lease of one or more containers (at least one of which is a container within the meaning of “container” in section 43P(7) of the Act) under a finance lease entered into before 12 December 2018 that is treated as a sale pursuant to regulations made under section 10C of the Act.
Subregulation 2
The reference in sub-paragraph (1) to a lease of one or more containers under a finance lease includes any one or both of the following activities if (and only if) the finance lease is for both the leasing of the container or containers and the activity or activities:
the leasing of any equipment installed or to be installed within or on any of the containers;
the leasing of any intermodal equipment.