Singapore legislation
Regulation 6
Regulation 6
Condition applicable to sale of flat
Amended byS 329/2022 wef 26/04/2022
Subregulation 1
Amended byS 329/2022 wef 26/04/2022
Where a flat has been mortgaged to a lender on or after 1st January 2003 and the mortgagor seeks the consent of the Board to sell the flat, the Board may, in granting its consent under section 56 of the Act (formerly section 50 of the Act as in force before 31 December 2021) and without prejudice to any other condition that it may think fit to impose, impose the condition that the proceeds of sale of the flat shall be applied in the order of priority specified in rule 3(e).
Subregulation 2
Paragraph (1) shall apply regardless of whether the mortgage is discharged at the time of the sale of the flat.