Clause 8

by inserting, immediately after subsection (8), the following subsection:“(8A) Notwithstanding anything in this section, upon the registration of the strata title plan in respect of any designated land, the Town Council responsible for the common property of the designated land shall as soon as practicable transfer to the management corporation for the designated land moneys standing to the credit of such of the funds (including sinking funds) of the Town Council Fund which relate to the designated land.”;

by deleting the words “or where the area of a Town is altered” in the first and second lines of subsection (9) and substituting the words “other than in consequence of any general election or by-election”; and

by deleting subsection (10) and substituting the following subsection:“(10) In this section —“designated land” means any land or housing estate vested in the Board which the Minister, by notification in the Gazette, designates as land to which section 126A of the Land Titles (Strata) Act [Cap. 158] applies;“other commercial property” means any commercial property which does not form part of any residential property.”.