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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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Related Subsidiary Legislation | Legislative History | Amendment Annotation off
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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 31/07/2009.
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Vesting of residential properties in Singapore societies
16.
—(1)  Notwithstanding anything in any written law, a Singapore society which intends to acquire any estate or interest in any residential property other than non-restricted residential property shall, prior to the vesting of the estate or interest in that residential property in the trustees of the society, furnish the Controller with a list of its trustees and members containing the particulars of their nationality and such other particulars as the Controller may require.
[9/2006]
(2)  The Controller may, if he is satisfied that the requirements of subsection (1) are complied with and that the society is a Singapore society, issue to the society a certificate stating that the society may acquire and retain residential properties in accordance with the provisions of this Act.
[9/2006]
(3)  The Controller may at any time require a Singapore society which has been issued a certificate under subsection (2) to produce its list of members and trustees for his inspection if the Controller desires to ascertain whether the Singapore society has ceased to be a Singapore society.
[9/2006]
(4)  The Controller may at any time cancel a certificate issued under subsection (2) if he is satisfied that —
(a)
in the case of a Singapore society which does not own any residential property that is not non-restricted residential property, the Singapore society has become a foreign society without obtaining the prior written approval of the Controller under section 17; or
(b)
in the case of a Singapore society which owns any residential property that is not non-restricted residential property, the Singapore society has become a converted society without obtaining the prior written approval of the Minister under section 26.
[9/2006]
(5)  The Controller shall, upon the application by any Singapore society which is a holder of a certificate issued by the Controller under subsection (2), cancel the certificate if the Controller is satisfied that the Singapore society does not own any residential property that is not non-restricted residential property.
[9/2006]
(6)  Any Singapore society which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000.
[9/2006]