Clause 28

in subsection (1), after “secure the repayment”, insert “, in the prescribed circumstances,”;

in subsection (3), after paragraph (a), insert —“(aa)subject to any subsidy recovery amount in respect of the HDB flat;”;

in subsection (9), replace “applied —” with “applied to the following payments in the following order of priority:”;

in subsection (9), replace paragraphs (a), (b) and (c) with —“(a)to discharge all statutory rights and charges of any public authority over the HDB flat;

to pay any resale levy imposed by the Housing and Development Board in respect of the HDB flat, subject to the exception mentioned in subsection (3)(b);

in the absence of any agreement giving priority to the Board, to discharge all encumbrances registered or notified prior to the date of the constitution of the charge;”;

in subsection (9)(d), delete “fourthly,”;

in subsection (9)(e), delete “fifthly,”;

in subsection (9)(e), delete “and” at the end;

in subsection (9)(f), delete “finally,”;

after subsection (11A), insert —“(11B) In this section, “subsidy recovery amount” means an amount that the Housing and Development Board is entitled to recover upon the disposal of an HDB flat priced with additional subsidies which are specified for the purposes of this subsection by regulations made under section 77(1).”; and

after subsection (13), insert —“(14) In this section, a reference to the disposal of an HDB flat includes the sale, transfer, assignment or other disposal of any interest or estate in the HDB flat, whether voluntary or otherwise.”.