Singapore legislation

Regulation 12

of Land Betterment Charge (Concessionary Relief) Order 2022

Regulation 12

Land under State lease granted to university

Subregulation 1

Land betterment charge is not payable, to the extent specified in sub‑paragraph (2), for chargeable consent that —

(a)

is given in relation to any land which is the subject of a plot ratio‑silent State lease (of whatever tenure) that —

(i)

is granted to a university; and

(ii)

is for the purpose of “Educational Institution or educational and institutional related uses”; and

(b)

entitles a person to carry out any development of the land for any purpose.

Subregulation 2

The amount of land betterment charge that is not payable because of the concession in sub‑paragraph (1) must not be more than the amount worked out according to the formulawhere —

(a)

A is the floor area obtained by multiplying the area of the land by a factor of 1.4;

(b)

B is the rate specified in the Second Schedule to the Land Betterment Charge (Table of Rates and Valuation Method) Regulations 2022 corresponding to —

(i)

the appropriate geographical sector of the land as defined in those Regulations; and

(ii)

the Use Group within which falls the purpose for which the land is to be used or developed under the terms of the lease by the State as specified in sub‑paragraph (1)(a); and

(c)

C is the Pre-chargeable Valuation of the land as determined in accordance with the Land Betterment Charge (Table of Rates and Valuation Method) Regulations 2022.

Subregulation 3

In this paragraph, “university” means —

(a)

the company limited by guarantee incorporated under the Companies Act 1967 under the name “National University of Singapore”; or

(b)

the company limited by guarantee incorporated under the Companies Act 1967 under the name “Nanyang Technological University”.

Read in full context — Land Betterment Charge (Concessionary Relief) Order 2022 →