Clause 5

replace subsection (1) with —“(1) This section applies to a development where —

all the subsisting leases in respect of the flats in the development —

are registered under the Registration of Deeds Act 1988 or the Land Titles Act 1993; and

are each for a leasehold tenure of 850 years or more, or for any other tenure specified by the Minister by notification in the Gazette; and

the proprietors of the flats with the subsisting leases mentioned in paragraph (a) do not own the land comprised in the development.”;

in subsection (2), after “cash or kind”, insert a comma; and

in subsection (7), replace “, (14B) and (16)” with “and (14B)”.