Regulation 1
Citation and commencement
This Order may be cited as the Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 and shall come into operation on 4th August 2014.
/akn/sg/act/sub_leg/1987/PTCA-S514-2014
Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1987
- Sections
- 5
Quick answer
About this subsidiary legislation
Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation PTCA-S514-2014 1987, currently marked in force and first recorded in 1987.
Regulation 2
Definitions
In this Order, unless the context otherwise requires —“consolidation” means —
(a)
any merger, acquisition, take‑over or other similar transaction that results in 2 or more independent economic entities, at least one of which is providing a ticket payment service, becoming a single economic entity; or
(b)
any transfer of all or any part of a business in relation to a ticket payment service of any entity to another entity;“period of assessment” means the period of 12 months reckoned retrospectively from the last day of each calendar month that occurs on or after 4th August 2014;“ticket payment service provider” means any person who provides a service for the clearing of any ticket transaction;“trigger date”, in relation to a ticket payment service provider, means the date within any period of assessment —
(a)
on which the total value of ticket transactions cleared by a ticket payment service provider for that period of assessment exceeds $300 million; and
(b)
from which the ticket payment service provider ceases to be exempted from obtaining a ticket payment service licence under paragraph 3(1).
Definition
“consolidation” means —
(a)
any merger, acquisition, take‑over or other similar transaction that results in 2 or more independent economic entities, at least one of which is providing a ticket payment service, becoming a single economic entity; or
(b)
any transfer of all or any part of a business in relation to a ticket payment service of any entity to another entity;
Definition
“period of assessment” means the period of 12 months reckoned retrospectively from the last day of each calendar month that occurs on or after 4th August 2014;
Definition
“ticket payment service provider” means any person who provides a service for the clearing of any ticket transaction;
Definition
“trigger date”, in relation to a ticket payment service provider, means the date within any period of assessment —
(a)
on which the total value of ticket transactions cleared by a ticket payment service provider for that period of assessment exceeds $300 million; and
(b)
from which the ticket payment service provider ceases to be exempted from obtaining a ticket payment service licence under paragraph 3(1).
Regulation 3
Exemption in respect of service for clearing of ticket transactions
Subregulation 1
Any ticket payment service provider who has not been issued a ticket payment service licence shall be exempted from Part IVB of the Act if the total value of ticket transactions cleared by the ticket payment service provider at any time during any period of assessment does not exceed $300 million.
Subregulation 2
Where —
(a)
the total value of ticket transactions cleared by a ticket payment service provider during any period of assessment exceeds $300 million; and
(b)
the ticket payment service provider applies to the Council for a ticket payment service licence within one month from the last day of that period of assessment,the ticket payment service provider shall continue to be exempted from Part IVB of the Act from the trigger date until the date in which the ticket payment service provider is issued with a ticket payment service licence or on which the provider’s application is withdrawn or rejected.
Subregulation 3
The exemption under sub‑paragraph (1) shall not apply to any ticket payment service provider being an entity that has been formed as a result of a consolidation.
Regulation 4
Exemption in respect of service for sale, topping-up, etc., of mode of payment for tickets
The persons specified in the Schedule are exempted from Part IVB of the Act in respect of the service provided by them for the sale, topping‑up, replacement or refund, or for the management of the use, of a mode of payment for tickets.
Regulation 5
Revocation
The Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2006 (G.N. No. S 400/2006) is revoked.
Common questions
- What is Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014?
- Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation PTCA-S514-2014 1987, currently marked in force and first recorded in 1987.
- Is Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 still in force?
- Yes — Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 is currently in force.
- When did Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 take effect?
- Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 was first recorded in 1987.
- How many regulations does Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 have?
- Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 contains 5 regulations.
- Where can I read the official version of Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014?
- The official text of Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014 is published at sso.agc.gov.sg.