Singapore legislation
Clause 16
Clause 16
New section 24A
The principal Act is amended by inserting, immediately after section 24, the following section: —“Penalty for failure to comply with a condition imposed by the Minister24A. Where the Minister has granted —
his approval for purchase, acquisition or retention of any estate or interest in any residential property pursuant to section 16 or 17;
his approval for a change of use of any immovable property pursuant to section 18; or
an exemption under section 22 in respect of any person or property,subject to any condition imposed by the Minister, any approved purchaser who fails to comply with any such condition shall be guilty of an offence and shall be liable on conviction to a fine not exceeding ten thousand dollars and to a further fine not exceeding one thousand dollars for every day during which the offence is continued after conviction.”.