Singapore legislation
Clause 6
Clause 6
Amendment of section 10E
Section 10E of the principal Act is amended by inserting, immediately after subsection (1A), the following subsection:“(1B) Where the investment mentioned in subsection (1) is an immovable property, that subsection only applies if the company or trustee of the property trust —
(a)
is the legal owner of the investment; or
(b)
otherwise has a proprietary interest in the investment (including a lease or an easement) and would receive consideration if the proprietary interest is disposed of or transferred, whether in whole or in part.”.