Stamp Duties Act 1929 · 2021 Revised Edition · Part 3 · Provisions Applicable to Particular Instruments
32C. Amalgamation of companies under sections 215A to 215H of Companies Act 1967
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This section applies to an amalgamation of companies in accordance with sections 215A to 215H of the Companies Act 1967, where applicable.
Every notice of amalgamation issued by the Registrar of Companies under section 215F of the Companies Act 1967 upon an amalgamation mentioned in subsection (1) is treated for the purposes of this Act as a conveyance on sale —
conveyance on sale
“conveyance on sale” includes every instrument and every decree or order of any court, by which any property, or any estate or interest in any property, upon the sale thereof is transferred to or vested in a purchaser or any other person on the purchaser’s behalf or by the purchaser’s direction;
by each amalgamating company (called in this section the transferor) in respect of the chargeable property held by that transferor which is transferred to and vested in the amalgamated company (called in this section the transferee) upon the amalgamation; and
for a consideration equal to the higher of the following:
the value of the chargeable property so vested;
where the amount of consideration is specified in any instrument relating to the transfer of the chargeable property by the transferor to, and the vesting of the chargeable property in, the transferee, that amount.
In this section, “chargeable property” means —
immovable property situated in Singapore, or any beneficial interest in the immovable property; and
stocks and shares registered in a register kept in Singapore, or any beneficial interest in the stocks and shares, other than stocks and shares deposited with and registered in the name of the Central Depository System established under section 81SH of the Securities and Futures Act 2001 or its nominee.