Singapore legislation
Regulation 5
Regulation 5
Definitions of this Part
In this Part —“asset” includes any commodity within the meaning of section 2 of the Securities and Futures Act (Cap. 289);“building” means any immovable property that has undergone development within the meaning of section 3 of the Planning Act (Cap. 232);“foreclosed property”, in relation to a merchant bank in Singapore or its major stake entity, means the whole or any part of any residential, commercial or industrial land or building that has been acquired by the merchant bank or its major stake entity (as the case may be) acting in its capacity as the mortgagee of the whole or that part of the land or building (as the case may be) arising from an action for foreclosure;“investment property”, in relation to a merchant bank in Singapore or its major stake entity, means the whole or any part of any residential, commercial or industrial land or building that has been acquired or is held by the merchant bank or its major stake entity (as the case may be) as an investment;“land” means any immovable property that has not undergone development within the meaning of section 3 of the Planning Act;“major stake entity”, in relation to a merchant bank in Singapore, means —
in the case of a merchant bank incorporated in Singapore — any entity in which the merchant bank holds, directly or indirectly, a major stake; or
in the case of the branches and offices located in Singapore of a merchant bank incorporated outside Singapore — any entity in which the merchant bank incorporated outside Singapore holds, directly or indirectly, a major stake that is reflected as an investment in the balance‑sheet of the branches and offices located in Singapore;“property enhancement” means —
in relation to a building, the carrying out of any works for the refurbishment, improvement or alteration of, or addition to, the building that —
do not amount to demolition or reconstruction of the building; and
do not vary the gross floor area of the building by more than 20%; and
in relation to any part of a building, the carrying out of any works for the refurbishment, improvement or alteration of, or addition to, that part of the building that —
do not amount to demolition or reconstruction of that part of the building; and
do not vary the gross floor area of that part of the building by more than 20%;“property management”, in relation to the whole or any part of any land or building —
means the maintenance and management of the whole or that part of the land or building, as the case may be; and
includes the procurement of security services and lease and tenancy administration in relation to the whole or that part of the land or building (as the case may be) but does not include property enhancement.
Definition
“asset” includes any commodity within the meaning of section 2 of the Securities and Futures Act (Cap. 289);
Definition
“building” means any immovable property that has undergone development within the meaning of section 3 of the Planning Act (Cap. 232);
Definition
“foreclosed property”, in relation to a merchant bank in Singapore or its major stake entity, means the whole or any part of any residential, commercial or industrial land or building that has been acquired by the merchant bank or its major stake entity (as the case may be) acting in its capacity as the mortgagee of the whole or that part of the land or building (as the case may be) arising from an action for foreclosure;
Definition
“investment property”, in relation to a merchant bank in Singapore or its major stake entity, means the whole or any part of any residential, commercial or industrial land or building that has been acquired or is held by the merchant bank or its major stake entity (as the case may be) as an investment;
Definition
“land” means any immovable property that has not undergone development within the meaning of section 3 of the Planning Act;
Definition
“major stake entity”, in relation to a merchant bank in Singapore, means —
in the case of a merchant bank incorporated in Singapore — any entity in which the merchant bank holds, directly or indirectly, a major stake; or
in the case of the branches and offices located in Singapore of a merchant bank incorporated outside Singapore — any entity in which the merchant bank incorporated outside Singapore holds, directly or indirectly, a major stake that is reflected as an investment in the balance‑sheet of the branches and offices located in Singapore;
Definition
“property enhancement” means —
in relation to a building, the carrying out of any works for the refurbishment, improvement or alteration of, or addition to, the building that —
do not amount to demolition or reconstruction of the building; and
do not vary the gross floor area of the building by more than 20%; and
in relation to any part of a building, the carrying out of any works for the refurbishment, improvement or alteration of, or addition to, that part of the building that —
do not amount to demolition or reconstruction of that part of the building; and
do not vary the gross floor area of that part of the building by more than 20%;
Definition
“property management”, in relation to the whole or any part of any land or building —
means the maintenance and management of the whole or that part of the land or building, as the case may be; and
includes the procurement of security services and lease and tenancy administration in relation to the whole or that part of the land or building (as the case may be) but does not include property enhancement.