On 19/06/2013,
you requested for the version in force on 19/06/2013
incorporating all amendments published on or before 19/06/2013.
The closest version currently available is that of 17/01/2011.
25.
—(1) For the purposes of this Act, there shall be a committee to be known as the Residential Property Advisory Committee which shall consist of a Chairman and such number of other members as the Minister may, from time to time, appoint for such period as he may think fit. Any member so appointed who ceases to be a member shall be eligible for reappointment.
(2) Subject to subsection (14), any foreign person who desires to purchase, acquire or retain any estate or interest in any residential property other than non-restricted residential property shall apply to the Minister through the Controller for the grant of the Minister’s approval to acquire or to retain residential property, as the case may be.
[9/2006]
(3) Every such application shall be in such form and shall state such particulars as the Controller may require.
[9/2006]
(4) The Controller shall forward every such application to the Committee; and after consideration thereof, the Committee shall make recommendations thereon to the Minister who may, in his discretion, grant, with or without conditions (or refuse to grant), approval —
(a)
for the purchase or acquisition of the estate or interest in the residential property in respect of which the application was made or for the retention of such estate or interest; or
(b)
for the purchase or acquisition of the estate or interest in residential property of such class or nature as the applicant may desire to purchase or acquire.
(5) Without prejudice to the generality of the powers of the Minister under subsection (4), he may, in his discretion, grant approval, with or without conditions, to any applicant, being a natural person, who intends to purchase or acquire residential property for the purpose of his own occupation and that of his family as a dwelling-house and not for the purpose of rental or any other purpose; and for the purposes of this subsection “an applicant” means one —
(a)
who is a permanent resident;
(b)
who, in the opinion of the Minister, is of economic benefit to Singapore or who, in the opinion of the Minister, makes or is able to make an adequate economic contribution to Singapore; or
(c)
who, not being a citizen, possesses professional or other qualifications or experience which, in the opinion of the Minister, are of value or of benefit or advantageous to Singapore.
(6) Without prejudice to the generality of the powers of the Minister under subsection (4), he may grant approval, with or without conditions, to an applicant, being a foreign company or a foreign limited liability partnership which —
(a)
in the opinion of the Minister —
(i)
is of economic benefit to Singapore; or
(ii)
makes or is able to make an adequate economic contribution to Singapore; and
(b)
intends to purchase or acquire, or retain any interest in, residential property for the purpose of occupation as a dwelling-house by its executives, managers, partners, employees or other personnel and their families and not for any other purpose.
[17/2005]
(7) The conditions that the Minister may impose under subsection (4), (5) or (6) shall include all or any of the following:
(a)
that the applicant —
(i)
being a natural person, shall use the residential property for his own occupation and that of his family as a dwelling-house and not for any other purpose; or
(ii)
being a foreign company or a foreign limited liability partnership, shall use the residential property for occupation as a dwelling-house by its executives, managers, partners, employees or other personnel and their families and not for any other purpose;
(aa)
that the applicant shall not sell, assign, transfer or otherwise dispose of his or its estate or interest in the residential property within such period as may be specified by the Minister;
(b)
that the applicant shall provide such security as may be determined by the Minister for the purposes of complying with any condition imposed by the Minister;
(c)
that the applicant shall give an undertaking in writing to comply with the conditions imposed by the Minister.
[9/2006]
(7A) Where an applicant has failed to comply with any of the conditions imposed by the Minister under this section, the Minister may forfeit (in part or whole) the security provided by the applicant under this section after giving 21 days’ notice in writing to the applicant of his intention to forfeit the security and the grounds thereof.
[9/2006]
(7B) An applicant may, upon receipt of the notice under subsection (7A), appeal to the Minister within 3 months from the date of that notice.
[9/2006]
(7C) The decision of the Minister on any appeal made under subsection (7B) shall be final and shall not be called in question in any court.
[9/2006]
(8) [Deleted by Act 35/2010 wef 17/01/2011]
(9) (a) Every applicant referred to in subsection (5) shall furnish a declaration as to whether the applicant or the applicant’s spouse or any of their children owns residential property in Singapore, and if so shall state full particulars thereof.
[9/2006]
(b)
Every applicant referred to in subsection (6) shall furnish a declaration as to whether the applicant owns residential property in Singapore, and if so shall state full particulars thereof; and such declaration shall —
(i)
where the applicant is a foreign company, be made by a director, manager or secretary thereof or a person holding an analogous position; and
(ii)
where the applicant is a foreign limited liability partnership, be made by a manager or partner thereof or a person holding an analogous position.
[17/2005; 9/2006]
(10) Nothing in this section shall be construed as detracting from or prejudicing in any way the power conferred on the Minister by subsection (4) to approve or to refuse to approve any application.
(11) The decision of the Minister to approve or to refuse to approve any application shall be conveyed to the applicant by the Controller by notice in writing.
(12) Where the Minister has refused an application and the Controller has conveyed the Minister’s decision by notice in writing to the applicant, the applicant may, within a period of 3 months of the date of the notice (or such later period as the Minister may allow in the circumstances of any particular case), make representations to the Minister against his decision; and if the applicant makes representations within that period (including any extension which may be allowed), the Minister, having considered those representations, shall direct the Controller to convey to the applicant his decision to accept or to reject the representations.
(13) The decision of the Minister to approve or to refuse to approve any application or, if any representations are made pursuant to subsection (12), his decision to accept or reject the representations, shall be final and shall not be called in question in any court.
(14) Where a foreign person is a natural person or a society, he or it shall not be required to make application for the retention of any estate or interest in any residential property vested in him or it immediately before 11th September 1973.