On 21/05/2013,
you requested for the version in force on 21/05/2013
incorporating all amendments published on or before 21/05/2013.
The closest version currently available is that of 15/08/2005.
9. Section 44 of the principal Act is amended —
(a)
by deleting subsection (3) and substituting the following subsection:
“(3) Any charge on a flat constituted under subsection (1) shall be subject to —
(a)
all encumbrances registered or notified under the Land Titles Act (Cap. 157) in respect of that flat before the date of the constitution of the charge;
(b)
all moneys due under the lease of the flat to the Board (on its own account or on account of the Central Provident Fund Board), whether before, on or after the date of the constitution of the charge; and
(c)
all moneys due to the Central Provident Fund Board under the charge constituted under section 21 or 21B of the Central Provident Fund Act (Cap. 36), whether before, on or after the date of the constitution of the charge.”; and
(b)
by deleting subsection (8) and substituting the following subsection:
“(8) The moneys received by a Town Council in exercise of its power of sale under subsection (4), after discharging all prior encumbrances, shall be held by it in trust to be applied —
(a)
firstly, in payment of all costs and expenses properly and reasonably incurred by the Town Council as incidental to the sale or any attempted sale, or otherwise;
(b)
secondly, in payment to the Central Provident Fund Board of all moneys secured by its charge constituted under section 21 or 21B of the Central Provident Fund Act (Cap. 36) and are referred to in subsection (3);
(c)
thirdly, in payment to the Board of such moneys due under the lease of the flat to the Board as are referred to in subsection (3);
(d)
fourthly, in payment to the Board of all moneys secured by its charge on the flat (if any) under section 65H of the Housing and Development Act (Cap. 129) for unpaid improvement contribution, and in payment to the Town Council of all moneys secured by its charge on the flat (if any), in the order of their priority;
(e)
fifthly, in discharge, equally and without preference, of —
(i)
the conservancy and service charges and interest accrued and due to the Town Council at the date of sale; and
(ii)
any improvement contribution (including any interest and penalty thereon) accrued and due to the Town Council at the date of the sale, whether or not secured by any charge under section 24D;
(f)
sixthly, in discharge of any improvement contribution (including any interest and penalty thereon) accrued and due to the Board at the date of the sale, which is not secured by any charge under section 65D of the Housing and Development Act (Cap. 129);
(g)
seventhly, in payment of subsequent mortgages and charges (if any) in the order of their priority; and
(h)
finally, the residue of such moneys so received shall be paid to the person who appears from the land-register kept under the Land Titles Act (Cap. 157) to be entitled to the flat sold or to be authorised to give receipts for the proceeds of the sale thereof.”.