Singapore legislation
Regulation 11
Regulation 11
Publication of notice for public auctions or public tenders
Subregulation 1
When the sale of State land by public auction or public tender has been authorised, the Collector of Land Revenue must publish a notice of sale in accordance with paragraph (1A) on the Internet website of the ministry or department of the Government, or of the agent of the Government, through which the sale is to be carried out.
Subregulation 1A
A notice of sale mentioned in paragraph (1) must describe the land and state —
in the case of a sale by public auction — the place, date and time of the sale;
in the case of a sale by public tender — the closing date and time of the public tender; and
the manner in which the conditions of the sale may be obtained.
Subregulation 2
An auctioneer may be appointed by the Collector of Land Revenue or his agent authorised in that behalf to conduct a public auction, and the costs thereof shall be recovered from the proceeds of sale or met from any available funds.
Subregulation 3
A deposit of not less than 5% on the price bid or, where an upset price is demanded, 25% on the price bid shall be paid and the Collector of Land Revenue shall give a receipt for the same.
Subregulation 4
The balance of the sale price and charges shall be paid within one month from the date of sale or within such further period as the Collector of Land Revenue may, on such terms and conditions as he considers fit, allow, failing which, the sale shall be void and of no effect and the amount deposited shall be forfeited to the Government.