Competition (Fees) (Amendment) Regulations 2011

Status:

Published in Subsidiary Legislation Supplement
on 26 Jul 2011

No. S 430

Competition Act

(CHAPTER 50B)

Competition
(Fees) (Amendment)
Regulations 2011

In exercise of the powers conferred by section 93 of the Competition Act, the Competition Commission of Singapore, with the approval of the Minister for Trade and Industry, hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Competition (Fees) (Amendment) Regulations 2011 and shall come into operation on 1st August 2011.

Amendment of regulation 2

2. Regulation 2 of the Competition (Fees) Regulations 2007 (G.N. No. S 358/2007) is amended —

(a)

by deleting the definition of “small or medium sized enterprise” and substituting the following definition:

“ “small or medium sized enterprise” means an undertaking —

(a)	having an annual sales turnover of not more than $100 million; or
(b)	having not more than 200 employees;”; and

(b)

by renumbering the regulation as paragraph (1) of that regulation, and by inserting immediately thereafter the following paragraph:

“(2) For the purposes of paragraph (a) of the definition of “small or medium sized enterprise” in paragraph (1) —

(a)

“sales turnover”, in relation to the undertaking, means the amounts derived from the business operations of that undertaking in Singapore, and —

(i)	includes amounts derived by that undertaking from the sale of products and the provision of services falling within the ordinary activities of that undertaking; and
(ii)	does not include gains from the sale of fixed assets, donations, grants, subsidies, subscriptions, interest, dividends, goods purchased for resale and investment income,

after deducting sales rebates, goods and services tax and other taxes directly related to sales turnover; and

(b)

“annual sales turnover”, in relation to the undertaking —

(i)	where the business year preceding the relevant date equals 12 months, means the sales turnover of that undertaking in the business year;
(ii)	where the business year preceding the relevant date does not equal 12 months, means the amount which bears the same proportion to the sales turnover of that undertaking during that business year as 12 months does to that period; or
(iii)	where there is no period preceding the relevant date that amounts to a business year, means the sales turnover of that undertaking during the period preceding the relevant date.”.

Made this 22nd day of July 2011.

LAM CHUAN LEONG

Chairman,
Competition Commission of Singapore.

[CCS/100/213/11; AG/LLRD/SL/50B/2010/4 Vol. 1]

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