Singapore legislation
Regulation 3
of Land Betterment Charge (Concessionary Relief — Golden Mile Complex) Order 2024
Regulation 3
Concessionary relief
Subregulation 1
Subject to sub‑paragraph (5), land betterment charge is not payable, to the extent specified in sub‑paragraph (2), for chargeable consent that —
is a conservation permission granted in relation to any land within the specified area; and
entitles a person to carry out any development within the specified area.
Subregulation 2
The amount of land betterment charge that is not payable because of the concession in sub‑paragraph (1) must not exceed the lower of the following:
$70,000,000;
the aggregate of the amount for each part of the development authorised by the conservation permission in question that is to be used exclusively for a purpose that falls within a Use Group, where the amount is worked out according to the formula
Subregulation 3
For the purposes of sub‑paragraph (2)(b) —
A is the floor area of that part of the development;
B is the specified rate corresponding to the Use Group; and
C is the percentage specified in the Seventh Schedule to the Land Betterment Charge (Table of Rates and Valuation Method) Regulations 2022 (G.N. No. S 569/2022) corresponding to the remaining tenure in whole years of land lot TS15‑00359T as of 6 May 2022.
Subregulation 4
A reference to any floor area of the development in sub‑paragraph (3)(a) includes the floor area of any part of the development that is for the conservation of one or more buildings within the specified area, mentioned in sub‑paragraph (5).
Subregulation 5
The concession in sub‑paragraph (1) does not apply to any part of the development that is for the conservation of one or more buildings within the specified area.
Subregulation 6
To avoid doubt, this paragraph does not affect paragraph 3 of the Land Betterment Charge (Concessionary Relief) Order 2022 (G.N. No. S 570/2022).