3.—(1) Subject to sub‑paragraph (2), a person carrying on a food business in Singapore that involves the sale of a freshly prepared Nutri‑Grade beverage is exempt from regulations 184B, 184C and 184D of the Food Regulations in respect of the sale if the person —| (a) | earns a revenue of not more than $1 million in the latest financial year or, if the person carried on the food business for a shorter period than one financial year, in the shorter period; and | | (b) | sells those beverages at fewer than 10 food premises in Singapore, not including any premises used for a primary food production business. |
(2) A person mentioned in sub-paragraph (1) that is an entity in a group is exempt from regulations 184B, 184C and 184D of the Food Regulations in respect of the sale if the group —| (a) | earns a revenue of not more than $1 million in the latest financial year or, if the group has been formed for a shorter period than one financial year, in the shorter period; and | | (b) | sells those beverages at fewer than 10 food premises in Singapore, not including any premises used for a primary food production business. |
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(3) In this paragraph — | “Accounting Standards” means the accounting standards made or formulated by the Accounting Standards Committee under Part 3 of the Accounting Standards Act 2007; |
“financial statements” —| (a) | in relation to a person (other than an individual described in paragraph (b)) or a group, means —| (i) | the audited financial statements of the person or group (as the case may be) for or covering the financial year concerned, prepared in accordance with the Accounting Standards, or equivalent accounting standards of a country outside Singapore, applicable to that person or group; or | | (ii) | in the absence of the audited financial statements mentioned in sub‑paragraph (i) — the profit and loss statement of the person or group for or covering that financial year; or |
| | (b) | in relation to an individual carrying on a food business as a sole proprietor, means —| (i) | the audited statement of accounts of the individual for or covering the financial year concerned, prepared in accordance with the Accounting Standards, or equivalent accounting standards of a country outside Singapore, applicable to that individual; or | | (ii) | in the absence of the audited statement of accounts mentioned in sub‑paragraph (i) — the profit and loss statement of the individual for or covering that financial year; |
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“financial year” means — | (a) | for a person carrying on a food business — the period (whether a year or not) for which the financial statements of the person are made up; | | (b) | for a group that prepares consolidated financial statements — the period (whether a year or not) for which those consolidated financial statements are made up; and | | (c) | for a group that does not prepare consolidated financial statements — the period (whether a year or not) for which the financial statements of the group’s ultimate parent entity are made up; |
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“group” means 2 or more entities where each entity is either a parent or a subsidiary, or both, of at least one other entity, and for this purpose — | (a) | an entity is a parent of another entity if the entity controls the other entity; | | (b) | an entity is a subsidiary of another entity if the entity is controlled by the other entity; and | | (c) | an entity controls another entity if —| (i) | the entity has existing rights that give the entity the current ability to direct the activities of the other entity in a way that significantly affects the amount of the other entity’s returns; | | (ii) | the entity has exposure or rights to variable returns from its involvement with the other entity; and | | (iii) | the entity has the ability to use the existing rights mentioned in sub‑paragraph (i) over the other entity to affect the amount of the first mentioned entity’s returns from its involvement with the other entity; |
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| “ultimate parent entity”, for a group, means the entity in the group that is a parent but not a subsidiary. |
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