Regulation 2
Exemption from need for approval to become converted entity
of Residential Property (GLG Properties Pte. Ltd. — Exemption) Notification 2021
Subsidiary LegislationIn forceProvision 2 of 6
Regulation 2
Section 9 of the Act does not apply to GLG Properties Pte. Ltd. (called in this Notification the relevant company), in relation to any residential property that —
(a)
is not non‑restricted residential property;
(b)
is vested in the relevant company immediately before its conversion into a converted entity before, on or after 13 August 2021; and
(c)
is intended for the purpose of development as residential property and with the ultimate purpose of sale or disposal by the relevant company as residential property for profit, after its conversion into a converted entity.