In forceAs enacted

Contents

Banking (Merchant Banks) Regulations 2021 · As enacted · Part 3 · Prescribed Businesses Under Section 55V(1)(d) of Act

14. Prescribed private equity or venture capital business

(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.

(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.

(3)

In this regulation, “property‑related activity” has the meaning given by regulation 28.

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.