PART 1 | Citation and commencement |
1.—(1) These Regulations are the Travel Agents Regulations 2017 and, except for regulations 17, 20, 23 and 24, come into operation on 1 January 2018.| (2) Regulations 17, 20, 23 and 24 come into operation on 1 June 2018. |
|
2. In these Regulations —| “applicant” means an applicant for a licence; |
| “general licence” means a licence that is not a niche licence, and includes a licence granted or renewed before 1 March 2018 under section 7(2) of the Act; [S 100/2018 wef 01/03/2018] |
| “guiding services” has the same meaning as in section 19A(1) of the Singapore Tourism Board Act (Cap. 305B); |
| “institution of a public character” has the same meaning as in section 40A of the Charities Act (Cap. 37); |
| “key executive officer” means the individual appointed or acting as the key executive officer under regulation 15; |
“net value” means —| (a) | in relation to a person that is a sole proprietor or an unincorporated association, the amount that the person has set aside as capital for the person’s activity as a travel agent after deducting any debit balance appearing in the profit and loss account of the person; | | (b) | in relation to a person that is a partnership, the capital of the partnership, after deducting any debit balance appearing in the profit and loss account of the partnership; or | | (c) | in relation to a person that is a company, limited liability partnership or other body corporate, the excess of the value of the assets owned by the corporation over its liabilities; |
|
| “niche licence” means a licence that is subject to a condition restricting the licensee granted the licence to supply only tours within Singapore without any right of accommodation; [S 100/2018 wef 01/03/2018] |
| “place of business”, in relation to a licensee, does not include a place where the licensee carries on business as a travel agent at a temporary booth or stall at a fair or an exhibition; |
| “tourist” has the same meaning as in section 19A(1) of the Singapore Tourism Board Act; |
| “tourist guide” has the same meaning as in section 19A(1) of the Singapore Tourism Board Act. |
|
| Minimum financial requirements for applicants |
3.—(1) For the purposes of section 7(3)(b) of the Act, the minimum financial requirements for an applicant for a general licence are as follows:| (a) | where the applicant is a sole proprietor, partnership or an unincorporated association, the applicant’s net value must not be less than $100,000; | | (b) | where the applicant is a company, limited liability partnership or other body corporate, the applicant’s issued and paid‑up capital must not be less than $100,000 and the applicant’s net value not less than $100,000. [S 100/2018 wef 01/03/2018] |
(1A) For the purposes of section 7(3)(b) of the Act, the minimum financial requirements for an applicant for a niche licence are as follows: | (a) | where the applicant is a sole proprietor, partnership or an unincorporated association, the applicant’s net value must not be less than $50,000; | | (b) | where the applicant is a company, limited liability partnership or other body corporate, the applicant’s issued and paid‑up capital must not be less than $50,000 and the applicant’s net value not less than $50,000. [S 100/2018 wef 01/03/2018] |
|
| (2) For the purposes of paragraphs (1) and (1A), an applicant must, together with the application for a licence, submit a financial statement that presents the applicant’s financial position as at a date within 6 months before the date the applicant submits the application. [S 100/2018 wef 01/03/2018] |
|
|
