Singapore legislation
Regulation 3
of Executive Condominium Housing Scheme (Compensation and Order of Priority) Regulations 1996
Regulation 3
Amount of compensation
The amount of compensation payable under sections 8(7) and 9(6) of the Act must be the lower of —
(a)
the sum of —
(i)
the purchase price of the housing accommodation; and
(ii)
the whole or such part, as the Central Provident Fund Board may determine, of the interest that would have been payable on all amounts which the purchaser has withdrawn from the amount standing to his or her credit in the Fund if the withdrawal had not been made; or
(b)
the prevailing market value of the housing accommodation as determined by the relevant authority.