Singapore legislation
Section 11
Section 11
Vesting of residential properties in Singapore limited liability partnerships
(1)
Despite anything in any written law, a Singapore limited liability partnership which intends to acquire any estate or interest in any residential property other than non‑restricted residential property must, prior to the vesting of the estate or interest in that residential property in the limited liability partnership, provide the Controller with a list of its partners containing the particulars of their nationality and such other particulars as the Controller may require.
(2)
The Controller may, if he or she is satisfied that the requirements of subsection (1) are complied with and that the limited liability partnership is a Singapore limited liability partnership, issue to the limited liability partnership a certificate stating that the limited liability partnership may acquire and retain residential properties subject to the provisions of this Act.
(3)
The Controller may at any time require a Singapore limited liability partnership which has been issued a certificate under subsection (2) to produce its register of partners for his or her inspection if the Controller desires to ascertain whether the Singapore limited liability partnership has ceased to be a Singapore limited liability partnership.
(4)
The Controller may at any time cancel a certificate issued under subsection (2) if he or she is satisfied that —
in the case of a Singapore limited liability partnership which does not own any residential property that is not non‑restricted residential property — the Singapore limited liability partnership has become a foreign limited liability partnership without obtaining the prior written approval of the Controller under section 14A; or
in the case of a Singapore limited liability partnership which owns any residential property that is not non‑restricted residential property — the Singapore limited liability partnership has become a converted foreign limited liability partnership without obtaining the prior written approval of the Controller under section 26.
(5)
The Controller must, upon the application by any Singapore limited liability partnership 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 limited liability partnership does not own any residential property that is not non‑restricted residential property.
(6)
Any Singapore limited liability partnership which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000.