Property Tax Act |
Property Tax (Prescribed Interest Rates) Regulations 2010 |
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Citation and commencement |
1. These Regulations may be cited as the Property Tax (Prescribed Interest Rates) Regulations 2010 and shall come into operation on 25th October 2010. |
Definition |
2. In these Regulations, “prime lending rate”, in relation to any period in any year for which interest is payable under a provision in the Schedule, means the average of the prime lending rates for the months of October, November and December of the year immediately preceding that year of such bank or banks in Singapore as the Minister may determine, rounded to the nearest 0.5%. |
Prescribed interest rates |
3. The rates at which interest is payable pursuant to the provisions in the Schedule for any period in any year shall be the prime lending rate. |
Made this 14th day of October 2010.
Permanent Secretary, Ministry of Finance, Singapore. |
[MF(R) R042.002.2730 V6; AG/LLRD/SL/254/2010/2 Vol. 1] |