Regulation 2

if the period or a part of the period falls within the 6-month period beginning on 1 April of a calendar year, then, in relation to the period or the part (as the case may be) — the compounded average of the SORA values for the 3-month period immediately before 1 March of the same calendar year, as determined and published by the Monetary Authority of Singapore on its website at http://www.mas.gov.sg or (where the website is unavailable to the public) in one or more other forms that are readily accessible by the public; or

if the period or a part of the period falls within the 6-month period beginning on 1 October of a calendar year, then, in relation to the period or the part (as the case may be) — the compounded average of the SORA values for the 3-month period immediately before 1 September of the same calendar year, as determined and published by the Monetary Authority of Singapore on its website at http://www.mas.gov.sg or (where the website is unavailable to the public) in one or more other forms that are readily accessible by the public;“agreement” includes any tenancy agreement, licence agreement or agreement for lease or lease entered into between the Board and any tenant, licensee or lessee referred to in rule 3;“amount” means any rent, licence fee, service and conservancy charge, table cleaning charge or such other charge payable under an agreement or any goods and services tax payable in respect thereof;“financial year” means a period of 12 months ending on 31st March in any year;“goods and services tax” means the prevailing goods and services tax payable under the Goods and Services Tax Act (Cap. 117A);“National Environment Agency” means the National Environment Agency established under the National Environment Agency Act (Cap. 195);“rent” includes the annual ground rent;“Singapore Overnight Rate Average” or “SORA” means the volume-weighted average rate of borrowing transactions in the unsecured overnight interbank Singapore dollar cash market in Singapore between 8 a.m. and 6.15 p.m., as determined and published by the Monetary Authority of Singapore on its website at http://www.mas.gov.sg or (where the website is unavailable to the public) in one or more other forms that are readily accessible by the public.