Singapore legislation
Regulation 2
Regulation 2
Definitions
In these Regulations —“leveraged lease” is a finance lease the parties to which include a lessor, lessee and one or more long-term creditors who provide a substantial part of the financing for the acquisition of the leased machinery or plant without any recourse to the lessor for the repayment of the loan;“limited use asset” means any machinery or plant —
for which there is no other user;
where it is not commercially feasible for the lessor to lease the machinery or plant to another user; or
where the costs of dismantling and reassembling the machinery or plant are so high as to render a subsequent lease not economically viable;“sale and lease-back transaction” means a transaction where the asset is sold and subsequently leased back to the seller.
Definition
“leveraged lease” is a finance lease the parties to which include a lessor, lessee and one or more long-term creditors who provide a substantial part of the financing for the acquisition of the leased machinery or plant without any recourse to the lessor for the repayment of the loan;
Definition
“limited use asset” means any machinery or plant —
for which there is no other user;
where it is not commercially feasible for the lessor to lease the machinery or plant to another user; or
where the costs of dismantling and reassembling the machinery or plant are so high as to render a subsequent lease not economically viable;
Definition
“sale and lease-back transaction” means a transaction where the asset is sold and subsequently leased back to the seller.