Singapore legislation
Clause 9
Clause 9
Repeal and re-enactment of section 9
Section 9 of the principal Act is repealed and the following section substituted therefor: —“Vesting of residential properties in Singapore societies9.—
Notwithstanding anything contained in any written law or the constitution or rules of any Singapore society to the contrary, any Singapore society which intends to acquire any estate or interest in any residential property shall, prior to the vesting of the estate or interest in that property in the trustees of the society, amend the constitution or rules of the society, as the case may be, so as to provide —
that no person other than a citizen shall be a member of the society; and
that no person other than a citizen or a trust company registered under the Trust Companies Act (Cap. 207) shall be appointed as a trustee of the society.(2) A Singapore society shall, prior to the vesting of any estate or interest in any residential property in the trustees of the society, file with the Registrar of Societies and the Controller a copy of its constitution or rules including any amendments made thereto together with a list of its trustees and members containing the particulars of their nationality and such other particulars as the Controller may require.(3) The Controller may, if he is satisfied that the requirements of subsection (1) are complied with by a Singapore society, issue a certificate stating to the effect that the Singapore society has complied with the requirements of that subsection and may acquire residential properties in accordance with the provisions of this Act.”.