Clause 2

replace subsection (1) with —“(1) An application for an order for the sale of all the lots and common property in a strata title plan may be made by the subsidiary proprietors of lots in the strata title plan —

whose lots have in aggregate the percentage of the share values and the percentage of the total area of all the lots (excluding the area of any accessory lot) as shown in the subsidiary strata certificates of title, which are respectively not less than the threshold percentages specified in the second and third columns of the following table opposite the age of the development (as determined in accordance with section 84FE) specified in the first column of that table: First columnSecond columnThird column Age of developmentThreshold percentage in respect of share values of all lots Threshold percentage in respect of total area of all lots (excluding area of any accessory lot) Less than 10 years90%90% At least 10 years but less than 40 years80%80% At least 40 years but less than 60 years70%70% 60 years or more65%65% ; and (b)who have agreed in writing to sell all the lots and common property in the strata title plan to a purchaser under a sale and purchase agreement which specifies the proposed method of distributing the proceeds of sale (whether in cash or kind, or both) to all the subsidiary proprietors of the lots in the strata title plan, subject to an order being made under subsection (6) or (7).”;

in subsections (2A)(b) and (4A), delete “under subsection (6A)(b)”; (c)in subsection (2B), replace “under subsection (6A)(b) in relation to” with “in respect of”;

in subsection (4), replace “such longer period as the Board allows in exceptional circumstances, whether before or after the end of the 21 days” with “any longer period that the Board allows (whether before or after the end of the 21 days) in exceptional circumstances”;

in subsection (4A), replace “referred to” with “mentioned”;

in subsection (6), replace “under subsection (1) to a Board and no objection” with “to a Board under subsection (1) for an order for a sale and no objection to the sale”;

in subsection (6A), replace “under subsection (1) to a Board, and one or more objections have been filed under subsection (4) in relation to that application” with “to a Board under subsection (1) for an order for a sale, and one or more objections to the sale have been filed under subsection (4)”;

in subsection (6A)(b), delete “(called in this section a section 84A stop order)”;

in subsection (6B), replace “No section 84A stop order shall be made by a Board under subsection (6A)(b) with respect to an application made to it” with “A section 84A stop order must not be issued with respect to an application made to a Board”;

in subsection (6B)(a), replace “make” with “issue”;

in subsection (6B)(b), replace “the notice under paragraph (a) is so served, one or more of those objections so filed are not withdrawn” with “service of the notice under paragraph (a), one or more of those objections are not withdrawn”;

in subsection (7), replace “have been filed under subsection (4A) in respect of an application under subsection (1) to the General Division of the High Court” with “to a sale have been re‑filed under subsection (4A) in relation to an application to the General Division of the High Court under subsection (1)”; (m)in subsection (7), replace paragraphs (a) and (b) with —“(a)a subsidiary proprietor of any lot in the strata title plan who has re‑filed an objection under subsection (4A) will incur a financial loss; or

the proceeds of sale for any lot in the strata title plan to be received by any of the following persons who has re‑filed an objection under subsection (4A) are insufficient to redeem any mortgage or charge in respect of the lot: (i)a subsidiary proprietor of the lot; (ii)a mortgagee or chargee mentioned in subsection (4)(b).”; (n)in subsection (7A), replace “an objector, being a subsidiary proprietor who has filed” with “a subsidiary proprietor of a lot who has re‑filed”;

in subsection (7B), replace “0.25%” with “0.5%”;

in subsection (7C), replace “or 84FA(2)” with “, 84FA(2) or 84FC(3)”;

replace subsection (8) with —“(8) For the purposes of subsection (7)(a), a subsidiary proprietor of a lot —

is taken to have incurred a financial loss if the proceeds of sale for the subsidiary proprietor’s lot, after any deduction allowed by the General Division of the High Court (including all or any of the deductions specified in the Fourth Schedule), are less than the price the subsidiary proprietor paid for that lot, except where the subsidiary proprietor purchased the lot after a collective sale committee had signed a sale and purchase agreement to sell all the lots and common property in the strata title plan to a purchaser; and

is not to be taken to have incurred a financial loss by reason only that the subsidiary proprietor’s net gain from the sale of the subsidiary proprietor’s lot will be less than the net gain from the sale of any other lot in the strata title plan.”;

in subsection (9)(a)(i)(B), after “sale”, insert “to the subsidiary proprietors of the lots”; (s)in subsection (10), after “under subsection (4) to a Board or”, insert “re‑filed”; (t)delete subsections (14) and (14A); and

replace subsection (15) with —“(15) In this section —“section 84A stop order” means an order by a Board under subsection (6A)(b) for the discontinuance of all proceedings before it in connection with an application to the Board under subsection (1);“subsidiary proprietor” includes a successor in title.”.