Singapore legislation

Clause 12

of Stamp Duties (Amendment) Bill

Clause 12

Amendment of First Schedule

The First Schedule to the principal Act is amended —

(a)

by deleting paragraphs (f) and (i) of Article 3 and the entries corresponding thereto;

(b)

by deleting sub-paragraph (ii) of paragraph (g) of Article 3 and the entry corresponding thereto;

(c)

by inserting, immediately after paragraph (h) of Article 3 under the heading “Description of Instrument relating to immovable property and stock or shares”, the following exemption:“Exemption:In a case where the conveyance, assignment or transfer is effected by more than one instrument and one instrument has been duly stamped, each other instrument.”;

(d)

by deleting Article 5;

(e)

by deleting paragraphs (d) and (e) of Article 8 and the entries corresponding thereto;

(f)

by deleting the exemption at the end of Article 8 under the heading “Description of Instrument relating to immovable property and stock or shares” and substituting the following exemptions:“Exemptions:1.Any lease or agreement for a lease referred to in paragraph (a) or (c) executed on or after 1st April 2003 where the average rent and other consideration calculated for a whole year does not exceed $1,000.2.Any lease or agreement for a lease executed on or after 19th February 2011 in pursuance of a duly stamped agreement, or another duly stamped agreement, for the same.”;

(g)

by deleting paragraphs (d) and (e) of Article 9 and the entries corresponding thereto; (h)by deleting the exemption at the end of Article 9 under the heading “Description of Instrument relating to immovable property and stock or shares” and substituting the following exemptions:“Exemptions:1.Any mortgage of stock or shares under hand only.2.Any mortgage executed on or after 19th February 2011 in pursuance of a duly stamped agreement for the same.3.Any security executed on or after 19th February 2011 in conjunction with the security which is duly stamped under paragraph (a).”;

(i)

by deleting Article 10;

(j)

by deleting paragraph (b) of Article 11 and the entry corresponding thereto and substituting the following exemption under the heading “Description of Instrument relating to immovable property and stock or shares”:“Exemption:Any settlement executed on or after 19th February 2011 in pursuance of a duly stamped agreement for the same.”; and

(k)

by deleting paragraph (b) of Article 12 and the entry corresponding thereto.

Read in full context — Stamp Duties (Amendment) Bill →