Civil Aviation Authority of Singapore (Service Charge) (Amendment) Order 2023

Status:

Published in Subsidiary Legislation Supplement
on 09 Jun 2023

No. S 356

Civil Aviation Authority of
Singapore Act 2009

Civil Aviation Authority of
Singapore (Service Charge)
(Amendment) Order 2023

In exercise of the powers conferred by section 88 of the Civil Aviation Authority of Singapore Act 2009, the Civil Aviation Authority of Singapore, with the approval of the Minister for Transport, makes the following Order:

Citation and commencement

1. This Order is the Civil Aviation Authority of Singapore (Service Charge) (Amendment) Order 2023 and comes into operation on 10 June 2023.

Amendment of paragraph 2

2. In the Civil Aviation Authority of Singapore (Service Charge) Order 2009 (G.N. No. S 310/2009), in paragraph 2 —

(a)

before the definition of “air navigation services”, insert —

“ “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;”;

(b)

delete the definition of “prime lending rate”;

(c)

in the definition of “service charge”, replace the full‑stop at the end with a semi‑colon; and

(d)

after the definition of “service charge”, insert —

“ “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.”.

Amendment of paragraph 4

3. In the Civil Aviation Authority of Singapore (Service Charge) Order 2009, in paragraph 4(1), replace “3% per annum above the prime lending rate on the date the service charge or part thereof in arrears is payable” with “4.5%‑point above the 3‑month compounded SORA for the period mentioned in sub‑paragraph (2)(a)”.

[G.N. Nos. S 285/2010; S 555/2011; S 289/2012; S 363/2013; S 568/2014; S 501/2015; S 286/2016; S 345/2017; S 436/2018; S 477/2019; S 653/2020; S 560/2021; S 847/2022]

Made on 29 May 2023.

EDMUND CHENG WAI WING

Chairperson,
Civil Aviation Authority of Singapore.

[LE/LGN/C1.09; AG/LEGIS/SL/41/2020/2 Vol. 1]

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