Singapore legislation

Clause 10

of Residential Property (Amendment) Bill

Clause 10

New sections 9A and 9B

The principal Act is amended by inserting, immediately after section 9, the following sections: —“Singapore society to file statutory declaration9A.—

(1)

Any Singapore society which is the holder of a certificate issued by the Controller pursuant to subsection (3) of section 9 shall file with the Controller and the Registrar of Societies on or before the 1st day of July of each year a statutory declaration made by the president, chairman or secretary of the society furnishing the particulars of the nationality of all its members and trustees and such other particulars as the Controller may require.(2) Any Singapore society which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding two thousand dollars.Registrar may refuse to register an instrument of transfer9B. The Registrar may refuse to register an instrument of transfer of any estate or interest in any residential property in favour of a Singapore society unless he is satisfied that —

(a)

the constitution or rules of the society contain the provisions referred to in subsection (1) of section 9;

(b)

all the members of the society are citizens; and

(c)

the trustees of the society are either citizens or a trust company registered under the Trust Companies Act (Cap. 207).”.

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