2. In these Rules, unless the context otherwise requires —“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; or | | (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; |
[S 702/2023 wef 01/11/2023] |
| “agreement” includes any tenancy agreement, licence agreement or agreement for lease or lease entered into between the Board and any tenant, licensee or lessee referred to in rule 3; |
| “amount” means any rent, licence fee, service and conservancy charge, table cleaning charge or such other charge payable under an agreement or any goods and services tax payable in respect thereof; |
| “financial year” means a period of 12 months ending on 31st March in any year; |
| “goods and services tax” means the prevailing goods and services tax payable under the Goods and Services Tax Act (Cap. 117A); |
| “National Environment Agency” means the National Environment Agency established under the National Environment Agency Act (Cap. 195); |
| “rent” includes the annual ground rent; [S 702/2023 wef 01/11/2023] |
| “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. [S 702/2023 wef 01/11/2023] |
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