Singapore legislation
Schedule 3
Schedule 3
COMPENSATION
THIRD SCHEDULESections 43(3) and (7), 66(7), 78(1) and (2) and 79COMPENSATIONPart 1DESCRIPTIONS OF SPECIFIED CONTRACTS1. The descriptions of specified contracts are those specified in paragraph 1(a) of Part 1 of the Second Schedule (subject to paragraphs 2 and 3 of that Part).Part 2REQUIREMENTS FOR B1. The requirements which B must satisfy are as follows:
B must be —
an individual;
a sole proprietor; or
a company incorporated solely to hold the interest in the immovable property that is the subject of the lease or licence in question, and owned only by one or more individuals and sole proprietors; (b)B’s annual income, determined in the prescribed manner, does not exceed the prescribed amount for the prescribed period;
B’s rental income derived from the lease or licence of the immovable property, determined in the prescribed manner, is 50% or more of B’s annual income.
2. Where B is not the sole lessor or licensor of the immovable property, the other lessors or licensors must also be persons mentioned in sub‑paragraphs (i), (ii) and (iii) of paragraph 1(a).