Singapore legislation
Regulation 2
of Securities and Futures (Approved Holding Companies) Regulations 2005
Regulation 2
Definitions
In these Regulations —“accounting standards” means the accounting standards made or formulated by the Accounting Standards Committee under Part 3 of the Accounting Standards Act 2007;“annual report” means the audited profit and loss accounts, audited balance‑sheet and auditors’ report, by whatever name called, of an approved holding company;“associate”, in relation to an entity (called in this definition the first entity), means —
any entity in which the first entity controls the composition of the board of directors or such corresponding officers as may be prescribed;
any entity in which the first entity controls more than half of the voting power or such measure corresponding to voting power as may be prescribed;
any entity in which the first entity holds more than half of the total number of issued shares or such corresponding interest as may be prescribed;
a subsidiary of any other entity which is an associate by reason of paragraph (a), (b) or (c);
any entity (called in this paragraph the second entity) in which —
the first entity; or
any entity which is an associate by reason of paragraph (a), (b), (c) or (d),has, or the entities in sub‑paragraphs (i) and (ii) together have, an interest in shares entitling the beneficial owners of those interests the right to cast (whether by proxy or in person) not less than 20% but not more than 50% of the total votes able to be cast at a general meeting of the second entity, or such corresponding interest as may be prescribed; or
any entity (not being one which is an associate by reason of paragraph (a), (b), (c), (d) or (e)) the policies of which —
the first entity; or
any entity which is an associate by reason of paragraph (a), (b), (c), (d) or (e),is, or the entities in sub‑paragraphs (i) and (ii) together are, able to control or influence materially;“Guidelines on Fit and Proper Criteria” means the document by that title issued by the Authority and published on its website, as revised from time to time.
Definition
“accounting standards” means the accounting standards made or formulated by the Accounting Standards Committee under Part 3 of the Accounting Standards Act 2007;
Definition
“annual report” means the audited profit and loss accounts, audited balance‑sheet and auditors’ report, by whatever name called, of an approved holding company;
Definition
“associate”, in relation to an entity (called in this definition the first entity), means —
any entity in which the first entity controls the composition of the board of directors or such corresponding officers as may be prescribed;
any entity in which the first entity controls more than half of the voting power or such measure corresponding to voting power as may be prescribed;
any entity in which the first entity holds more than half of the total number of issued shares or such corresponding interest as may be prescribed;
a subsidiary of any other entity which is an associate by reason of paragraph (a), (b) or (c);
any entity (called in this paragraph the second entity) in which —
the first entity; or
any entity which is an associate by reason of paragraph (a), (b), (c) or (d),has, or the entities in sub‑paragraphs (i) and (ii) together have, an interest in shares entitling the beneficial owners of those interests the right to cast (whether by proxy or in person) not less than 20% but not more than 50% of the total votes able to be cast at a general meeting of the second entity, or such corresponding interest as may be prescribed; or
any entity (not being one which is an associate by reason of paragraph (a), (b), (c), (d) or (e)) the policies of which —
the first entity; or
any entity which is an associate by reason of paragraph (a), (b), (c), (d) or (e),is, or the entities in sub‑paragraphs (i) and (ii) together are, able to control or influence materially;
Definition
“Guidelines on Fit and Proper Criteria” means the document by that title issued by the Authority and published on its website, as revised from time to time.