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Circumstances when residual value payable in cash

Road Traffic (Motor Vehicles, Quota System) Rules

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—(1) Notwithstanding rules 20(3) and 24A(4) but subject to rules 21C and 21D, a person —(a)to whom a notice setting out the residual value of a cancelled certificate of entitlement is issued on or after 1st September 2008 under rule 20(2);(b)to whom a notice setting out the residual value of a renewed certificate of entitlement is issued on or after 1st September 2008 under rule 24A(3); or(c)who, immediately before 1st September 2008, holds the residual value of a cancelled certificate of entitlement under rule 20 or a renewed certificate of entitlement under rule 24A, as the case may be, and has not used that residual value to set off against —(i)any quota premium payable by him for another certificate of entitlement issued in respect of another motor vehicle;(ii)any levy payable by him for renewing or restoring the certificate of entitlement in respect of another motor vehicle;(iii)any fee payable by him under rule 6 or 7 of the Road Traffic (Motor Vehicles, Registration and Licensing) Rules (R 5) in connection with the registration or re-registration of another motor vehicle;(iv)any additional quota premium payable by him under rule 24B for the extension of a certificate of entitlement for a taxi (other than a replacement taxi); or(v)any additional levy payable by him under rule 24B for the restoration of a certificate of entitlement for a replacement taxi,may, within the grace period, apply to the Registrar to be paid, in lieu of the rebate or setting off, a sum of cash equal to the amount of residual value set out in any notice issued under rule 20(2) or (9) or rule 24A(3) or (12), as the case may be, that he holds.(2) Upon receipt of an application under paragraph (1), the Registrar may —(a)grant the application and, subject to paragraph (3), pay the applicant the sum of cash equal to the amount of residual value set out in the notice under rule 20(2) or (9) or rule 24A(3) or (12); or(b)refuse the application.(3) The Registrar may refuse to make any payment of any sum of cash under paragraph (2)(a) to a holder of the residual value of a cancelled certificate of entitlement or a renewed certificate of entitlement for a motor vehicle who makes an application under paragraph (1) if the Registrar is not satisfied that —(a)the motor vehicle (other than a motor vehicle which is re‑registered as a PU‑registered vehicle under rule 3B of the Road Traffic (Motor Vehicles, Registration and Licensing) Rules or is re‑registered as a classic vehicle under rule 69 of those Rules) —(i)has a chassis number and an engine number which is the same as the chassis number and engine number of the vehicle as recorded in the register of vehicles and has been destroyed, exported or otherwise removed permanently from all roads in Singapore; (ii)has a chassis number or an engine number which is different from the chassis number or engine number of the vehicle as recorded in the register of vehicles, but not because the person intentionally or negligently caused the difference with the intention of dishonestly obtaining the residual value, or the person is wilfully furthering such an intention; or(iii)is a motor vehicle mentioned in rule 21(1), 21A(1) or 21B(1); (b)no tax or fee payable under the Act in respect of that motor vehicle is outstanding; and(c)the holder has given an undertaking to the Government under rule 21(4) or 21A(4), as the case may be.(4) In relation to any application under paragraph (1) to be paid a sum of cash equal to the amount set out in any notice setting out the residual value of the cancelled or renewed certificate of entitlement, “grace period” means a period of 12 months starting on the date the certificate of entitlement was cancelled or renewed, or such longer period as the Registrar may allow in relation to any particular application.

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