Property Tax (Vacant Port Land) (Remission) Order 2006

This Order may be cited as the Property Tax (Vacant Port Land) (Remission) Order 2006.

In this Order —“port land” means land used or intended to be used for port operations;“port operations” means the operations carried out in relation to a port, including the handling of containers and cargo, stevedorage, dockage, pilotage, berthing, unberthing, transshipment, the provision of reefer services, the transportation of passengers by vessel and the rental of equipment for such purposes;“PSA Corporation Ltd” means PSA Corporation Limited, a company incorporated under the Companies Act (Cap. 50) and its successors and assigns, by whatever name called;“vacant port land” means port land which is unoccupied or under development, prior to the commencement of port operations.

Subject to the provisions of this Order, where the tax payable in respect of any vacant port land owned by PSA Corporation Ltd is assessed in accordance with section 2(3) of the Act, there shall, on an application made under paragraph 6, be remitted the full amount of the tax payable in respect of the vacant port land for the period of remission referred to in paragraph 5.

The remission of tax under paragraph 3 in respect of any vacant port land shall be granted subject to the condition that during the period of the remission ––

PSA Corporation Ltd may apply in writing to the Comptroller for remission of tax in respect of any vacant port land under this Order not later than 30 days after the date of service of the notice by the Chief Assessor under section 20 of the Act in respect of the vacant port land, in such form as the Comptroller may determine.

Where any vacant port land is developed in phases, the remission of tax in respect of the vacant port land under paragraph 3 may, at the discretion of the Comptroller, be granted in respect of such part of the land on which port operations have not commenced, and the Comptroller may apportion the annual value of the land for that purpose.

The remission of tax in respect of any vacant port land under paragraph 3 shall not be granted, or if granted shall be revoked, if the condition under paragraph 4 or any of the provisions of this Order is contravened in relation to the vacant port land.