Regulation 1
Citation and commencement
These Regulations are the Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 and come into operation on 15 January 2018.
/akn/sg/act/sub_leg/1996/MPASA-S18-2018
Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1996
- Sections
- 2
Quick answer
About this subsidiary legislation
Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation MPASA-S18-2018 1996, currently marked in force and first recorded in 1996.
Regulation 2
Disregarded interests
Subregulation 1
The following interests are disregarded for the purposes of section 86B(1) of the Act:
(a)
an equity interest held by a person as a bare trustee;
(b)
an equity interest held by a person by way of security for a loan granted by the person in the ordinary course of the person’s business of lending money; (c)an equity interest held by the Government or by the Minister for Finance in his or her corporate capacity;
(d)
an interest of a company in its own share if that interest is purchased or otherwise acquired in accordance with sections 76B to 76G of the Companies Act (Cap. 50);
(e)
an equity interest held by a person by reason of the person holding the office of director.
Subregulation 2
In addition to paragraph (1), where the security for the loan mentioned in paragraph (1)(b) is enforced and a person becomes the owner of an equity interest, that person’s interest in the equity interest is also to be disregarded for the purposes of section 86B(1) of the Act for —
(a)
a period of 90 days beginning on the day on which the security is enforced; or
(b)
such longer period as the Authority may, by written notice, give to the person.
Common questions
- What is Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018?
- Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 is Singapore Subsidiary Legislation, cited as Subsidiary Legislation MPASA-S18-2018 1996, currently marked in force and first recorded in 1996.
- Is Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 still in force?
- Yes — Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 is currently in force.
- When did Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 take effect?
- Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 was first recorded in 1996.
- How many regulations does Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 have?
- Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 contains 2 regulations.
- Where can I read the official version of Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018?
- The official text of Maritime and Port Authority of Singapore (Disregarded Interests) Regulations 2018 is published at sso.agc.gov.sg.