On 20/05/2013,
you requested for the version in force on 20/05/2013
incorporating all amendments published on or before 20/05/2013.
The closest version currently available is that of 31/07/2009.
14A.
—(1) Notwithstanding anything in any written law, a Singapore limited liability partnership shall not become a foreign limited liability partnership unless —
(a)
in the case of a Singapore limited liability partnership which owns any residential property that is not non-restricted residential property, it has obtained the prior approval of the Minister to become a converted foreign limited liability partnership pursuant to section 26; or
(b)
in the case of a Singapore limited liability partnership which claims that it does not own any residential property apart from non-restricted residential property, it has obtained the prior approval of the Controller under subsection (2) to become a foreign limited liability partnership.
[9/2006]
(2) For the purposes of subsection (1)(b), the Controller shall grant the approval for the Singapore limited liability partnership to become a foreign limited liability partnership if he is satisfied that the Singapore limited liability partnership does not own any residential property apart from non-restricted residential property.
[9/2006]
(3) Upon a Singapore limited liability partnership being granted an approval under subsection (1)(a) or (b), the Controller shall cancel the certificate issued to the Singapore limited liability partnership under section 11(2).
[9/2006]
(4) Notwithstanding any approval given by the Minister or the Controller for the purposes of subsection (1)(a) or (b), as the case may be, the Controller may —
(a)
if he subsequently discovers that the limited liability partnership owns any residential property in respect of which the Minister has not granted any approval under section 25 or 26 for the limited liability partnership to purchase, acquire or retain the residential property and the residential property is not non-restricted residential property; or
(b)
if he subsequently discovers that the limited liability partnership had made a misrepresentation to the Controller,
obtain the Minister’s direction to require the limited liability partnership to dispose of the residential property.
[9/2006]
(5) Where any residential property is to be disposed of pursuant to the Minister’s direction obtained under subsection (4), section 9(8) to (14) shall apply, with the necessary modifications, to the manner of disposal of the residential property and the rights of a mortgagee or chargee (if any) of the residential property.
[9/2006]