Singapore legislation
Regulation 14
Regulation 14
Prescribed private equity or venture capital business
Subregulation 1
Subject to paragraph (2) and regulation 15(4), a business (not being a business mentioned in section 55V(1)(a), (b) or (c) of the Act) that is —
(a)
carried on by a company or the trustee of a trust; and
(b)
a business that a merchant bank in Singapore has determined to have potential for high growth or value creation,is a prescribed business for the merchant bank in Singapore.
Subregulation 2
The business in paragraph (1) does not include —
(a)
the business of engaging in any property‑related activity; or
(b)
the business of factoring, leasing equipment or otherwise purchasing debt obligations from third parties.
Subregulation 3
In this regulation, “property‑related activity” has the meaning given by regulation 28.