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Contents

Long Title

Part I PRELIMINARY

Part II PROHIBITION ON PURCHASE OR ACQUISITION OF RESIDENTIAL PROPERTY BY FOREIGN PERSONS

Part III APPROVAL TO PURCHASE, ACQUIRE OR RETAIN RESIDENTIAL PROPERTY

Part IV MISCELLANEOUS

FIRST SCHEDULE Description of subdivided buildings

SECOND SCHEDULE Description of flats

Legislative History

 
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Print   Link to In-Force Version
On 23/12/2014, you requested the version in force on 23/12/2014 incorporating all amendments published on or before 23/12/2014. The closest version currently available is that of 17/01/2011.
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Minister may issue direction for sale of residential property
27.
—(1)  Where the Minister or the Controller, as the case may be, has at any time before or after 1st October 1982 —
(a)
granted his approval under section 25, 26 or 31 to any foreign person to purchase, acquire or retain any estate or interest in any residential property that is not non-restricted residential property;
(b)
exempted, pursuant to section 32, any foreign person from all or any of the provisions of this Act;
(c)
granted his approval under section 28 to any foreign person for a change of use of any land owned by that foreign person; or
(d)
granted his approval under section 28A to any foreign person for the development of any land,
subject to any condition and the Minister is satisfied that that person has failed to comply with the condition, the Minister may, by direction in writing, require the person named therein to dispose of his estate or interest in the residential property by transferring his estate or interest to any citizen or approved purchaser within a period of not less than 6 months of the date of service of the direction by the Minister.
[9/2006]
[35/2010 wef 17/01/2011]
(2)  A direction given by the Minister under subsection (1) shall be served on the Controller and the person named therein and the subsisting mortgagees and chargees (if any) of the residential property who appear as such on the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be.
[9/2006]
(3)  Where a person who has been directed under subsection (1) to dispose of his estate or interest in any residential property or land fails to satisfy the Controller that he has transferred his estate or interest within the period specified in subsection (1) or within any further period extended by the Minister, the Minister may issue to the Controller a notice to attach and sell the estate or interest in that residential property or land, and a copy of that notice shall be served on —
(a)
the owner of the residential property or land; and
(b)
each subsisting mortgagee or chargee (if any) who appears as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be.
[9/2006]