Singapore legislation
Regulation 12
of Conveyancing and Law of Property (Conveyancing) Rules 2011
Regulation 12
Uncompleted or disputed conveyancing transaction
Subregulation 1
Where, before an appointed bank has received any pay-out form for the payment of any conveyancing money in relation to a conveyancing transaction, the appointed bank receives a written notice that there is a dispute between the parties to the transaction, or that the transaction is aborted, the appointed bank shall not pay any conveyancing money relating to the transaction from a conveyancing account or conveyancing (CPF) account, unless the appointed bank —
receives, after the date on which it received the written notice, a pay-out form for the payment of the conveyancing money to such person as may be specified in that form, and complies with rule 7(12) in relation to that form; or
receives an order of court authorising it to pay the conveyancing money to such person as may be specified in that order.
Subregulation 2
Where, after an appointed bank has received a pay-out form or variation pay-out form for the payment of any conveyancing money relating to a conveyancing transaction, the appointed bank receives a written notice that there is a dispute between the parties to the transaction, or that the transaction is aborted, the appointed bank shall not pay any conveyancing money relating to the transaction from a conveyancing account or conveyancing (CPF) account, unless the appointed bank —
receives, after the date on which it received the written notice, a variation pay-out form for the payment of the conveyancing money to such person as may be specified in that form, and complies with rule 7(12) in relation to that form; or
receives an order of court authorising it to pay the conveyancing money to such person as may be specified in that order.