2. In this Part, unless the context otherwise requires —
“approved aircraft leasing company” means an aircraft leasing company as defined in section 43N of the Act and approved under that section, and includes a partnership approved under section 43N of the Act as applied by section 36(1A) of the Act;
[S 164/2022 wef 31/12/2021]
“qualifying payment”, in relation to an agreement for a loan, means any of the following payments made in connection with the loan:
(a)
interest;
(b)
agency fees;
(c)
arrangement fees;
(d)
commitment fees;
(e)
currency swap payments;
(f)
exposure fees;
(g)
front‑end fees;
(h)
interest rate swap payments;
(i)
retainer fees;
(j)
security trustee fees;
(k)
underwriting fees;
“specified date”, in relation to a qualifying payment liable to be made by an approved aircraft leasing company under an agreement for a loan, means the latest of the following dates:
(a)
12 November 2020;
(b)
the date on which the approved aircraft leasing company is approved as such;
(c)
either of the following dates, whichever is applicable:
(i)
if the declaration mentioned in paragraph 4(4) is made by the approved aircraft leasing company on or before the 15th day of a month and the qualifying payment is liable to be made at any time in the month immediately before the firstmentioned month — the date the qualifying payment is liable to be made;
(ii)
in any other case — the date on which the declaration is made;
“specified person”, in relation to an agreement for an applicable loan, means a person who is not resident in Singapore and either —
(a)
does not (alone or in association with others) carry on a business in Singapore and does not have a permanent establishment in Singapore; or
(b)
carries on a business in Singapore (alone or in association with others) or has a permanent establishment in Singapore, but no arrangement, management or service relating to the applicable loan is made or performed in the course of carrying on that business or through that permanent establishment.