On 25/05/2013,
you requested for the version in force on 25/05/2013
incorporating all amendments published on or before 25/05/2013.
The closest version currently available is that of 31/07/2008.
11.
—(1) The owner developer of a development (including any staged development) shall not sell any lot or proposed lot in the development with a share value unless a schedule of strata units or an amended schedule of strata units, as the case may be, showing that share value of the lot or proposed lot has been filed with and accepted by the Commissioner under this section.
1(2) Where a schedule of strata units has been filed and accepted by the Commissioner in respect of any staged development, the owner developer of the staged development shall also not sell any lot or proposed lot in any stage of the staged development subsequent to the initial stage unless he files an amended schedule of strata units under section 12 showing —
(a)
the adjusted share value of each lot or proposed lot comprised in the first stage and any preceding stage of the staged development of the parcel; and
(b)
the proposed share value to be allotted to each lot or proposed lot comprised in that subsequent stage of the staged development,
[and the Commissioner accepts that amended schedule of strata units under this section.]
1 No date has been appointed for the coming into operation of this subsection as at 1st July 2008.
(3) Every schedule of strata units and amended schedule of strata units shall be filed with the Commissioner in the prescribed form and manner and be accompanied by the prescribed fee.
2(4) In the case of a staged development, the schedule of strata units to be filed with the Commissioner shall also include —
(a)
the proposed share value of each lot or proposed lot comprised in the first stage of the staged development;
(b)
the range of aggregate provisional share values for all future development lots in each subsequent stage of the staged development;
(c)
a description of the parcel, identifying the future development lots therein, and so much of the proposed development that is warranted development and so much (if any) of the proposed development that is an authorised proposal; and
(d)
the proposed staged development contract subject to which the staged development shall be carried out.
2 No date has been appointed for the coming into operation of this subsection as at 1st July 2008.
(5) The Commissioner may accept a schedule of strata units filed under this section, or an amended schedule of strata units filed under section 12, if and only if he is satisfied that the proposed share values or range of proposed share values allotted to all the lots or proposed lots in the schedule of strata units or the amended schedule of strata units, as the case may be, are allocated in a just and equitable manner.
3(6) Without prejudice to subsection (5), in the case of a staged development, the Commissioner may accept an amended schedule of strata units filed under section 12 in respect of or on account of any subsequent stage of a staged development if and only if —
(a)
the aggregate share values of all lots or proposed lots comprised in the first and any preceding stage of the staged development; plus
(b)
the total of the proposed share values to be allotted to all lots or proposed lots in that subsequent stage of the staged development,
is not more or less than the aggregate of share values (including the range of provisional share values referred to in subsection (4)(b)) accepted by the Commissioner under this section.
3 No date has been appointed for the coming into operation of this subsection as at 1st July 2008.
(7) Within 6 weeks after any schedule of strata units or amended schedule of strata units for a development is filed with the Commissioner, the Commissioner shall either —
(a)
notify the owner developer concerned in writing of his acceptance of that schedule; or
(b)
notify the owner developer concerned that he rejects that schedule, stating his reasons for objecting to the allocation of share values therein.
(8) Every contract for the sale of any lot or proposed lot in a development shall be deemed to include a term that the owner developer of the development has agreed to sell an undivided share in the land on which the lot or proposed lot is or is to be erected with a value or, in the case of a lot or proposed lot in a staged development, within a range of share values, determined in accordance with the proposed share values or proposed range of share values, as the case may be, assigned to each lot or proposed lot shown in the schedule of strata units or amended schedule of strata units, as the case may be, for the development last accepted by the Commissioner before the execution of that contract.
[LT(S)A, s. 7]