Regulation 1
Citation
These Regulations may be cited as the Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations.
/akn/sg/act/sub_leg/1995/SWA-RG3
Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1995
- Sections
- 4
Quick answer
About this subsidiary legislation
Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SWA-RG3 1995, currently marked in force and first recorded in 1995.
Regulation 2
Prescribed fee
The fee payable under section 43(4) of the Act shall be $7.
Regulation 3
Prescribed rate of interest
Amended byS 184/2023 wef 01/04/2023
Subregulation 1
The rate of interest under section 43(8) of the Act is 4.5%‑point above the 3‑month compounded SORA for the period during which any sum remains unpaid at the expiry of the prescribed time.
Subregulation 2
In paragraph (1) —
Definition
“3-month compounded SORA”, in relation to a period, means —
(a)
if the period or a part of the period falls within the 6‑month period beginning on 1 April of a calendar year, then, in relation to the period or the part (as the case may be) — the compounded average of the SORA values for the 3‑month period immediately before 1 March of the same calendar year, as determined and published by the Monetary Authority of Singapore on its website at http://www.mas.gov.sg or (where the website is unavailable to the public) in one or more other forms that are readily accessible by the public;
(b)
if the period or a part of the period falls within the 6‑month period beginning on 1 October of a calendar year, then, in relation to the period or the part (as the case may be) — the compounded average of the SORA values for the 3‑month period immediately before 1 September of the same calendar year, as determined and published by the Monetary Authority of Singapore on its website at http://www.mas.gov.sg or (where the website is unavailable to the public) in one or more other forms that are readily accessible by the public;
Definition
“Singapore Overnight Rate Average” or “SORA” means the volume‑weighted average rate of borrowing transactions in the unsecured overnight interbank Singapore dollar cash market in Singapore between 8 a.m. and 6.15 p.m., as determined and published by the Monetary Authority of Singapore on its website at http://www.mas.gov.sg or (where the website is unavailable to the public) in one or more other forms that are readily accessible by the public.
Regulation 4
Repealed / deleted
[Deleted by S 184/2023 wef 01/04/2023]
Common questions
- What is Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations?
- Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations is Singapore Subsidiary Legislation, cited as Subsidiary Legislation SWA-RG3 1995, currently marked in force and first recorded in 1995.
- Is Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations still in force?
- Yes — Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations is currently in force.
- When did Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations take effect?
- Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations was first recorded in 1995.
- How many regulations does Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations have?
- Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations contains 4 regulations.
- Where can I read the official version of Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations?
- The official text of Street Works (Recovery of Costs and Expenses — Prescribed Fee and Rate of Interest) Regulations is published at sso.agc.gov.sg.