Regulation 2

in relation to an individual, means —

the persons listed in the Schedule; or

a firm or a corporation in which the individual or any of the persons listed in the Schedule has, in aggregate, control of not less than 20% of the voting power in the firm or corporation, whether such control is exercised individually or jointly;

in relation to a firm, means another firm in which the first-mentioned firm has control of not less than 20% of the voting power in that other firm; and

in relation to a corporation, means —

an employee or a former employee of the corporation;

a director or former director of the corporation; or

another corporation in which the first-mentioned corporation or any of the persons mentioned in sub-paragraph (i) or (ii) has, in aggregate, control of not less than 20% of the voting power in that other corporation,and a reference in these Regulations to a person connected to another person shall be construed accordingly;“debenture” has the same meaning as in section 2(1) of the Securities and Futures Act 2001;“foreign practitioner” means a foreign lawyer registered under section 36B of the Legal Profession Act 1966 who practises in a Singapore law practice, Joint Law Venture or Qualifying Foreign Law Practice;“Formal Law Alliance” has the same meaning as in section 2(1) of the Legal Profession Act 1966;“introducing activities” means —

introducing any client to any person in relation to the provision of any trust business services provided by the person; or

recording the particulars of any client and forwarding such particulars to any person providing trust business services with the client’s consent;[Deleted by S 447/2016 wef 30/09/2016]“Joint Law Venture” has the same meaning as in section 2(1) of the Legal Profession Act 1966;“overseas person” means a person —

who is not resident, established or incorporated in Singapore; and

who has no place of business in Singapore in or from which that person carries on trust business;“practising solicitor” means a solicitor who has in force a practising certificate issued under section 25 of the Legal Profession Act 1966, and who practises in a Singapore law practice, Joint Law Venture or Qualifying Foreign Law Practice;“private trust company” means a corporation —

the purpose of which is solely to provide trust business services in respect of a specific trust or of specific trusts where —

each settlor of such a trust is a connected person in relation to any other settlor of any other trust to which the corporation provides trust business services; and

each beneficiary of such a trust is a connected person in relation to the settlor of that trust or a charity; and

that does not solicit trust business from, or provide trust business services to, the public;“public accountant” has the same meaning as in the Accountants Act 2004;“Qualifying Foreign Law Practice” and “Singapore law practice” have the same meanings as in section 2(1) of the Legal Profession Act 1966.