Singapore legislation
Regulation 2
of Public Transport Council (Ticket Payment Service Licence) (Exemption) Order 2014
Regulation 2
Definitions
In this Order, unless the context otherwise requires —“consolidation” means —
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
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 —
on which the total value of ticket transactions cleared by a ticket payment service provider for that period of assessment exceeds $300 million; and
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 —
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
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 —
on which the total value of ticket transactions cleared by a ticket payment service provider for that period of assessment exceeds $300 million; and
from which the ticket payment service provider ceases to be exempted from obtaining a ticket payment service licence under paragraph 3(1).