Singapore legislation
Regulation 21D
Regulation 21D
No set off, etc., of residual value of certificate of entitlement of replaced vehicle
The residual value of the certificate of entitlement of a motor vehicle —
is not available to be set off against any quota premium, levy, fee, additional quota premium or additional levy mentioned in rule 20(3);
must not be paid in cash to the holder of the certificate of entitlement under rule 25(2)(a); and
is not transferable to another person under rule 20(5);if all of the following apply:
an application under rule 9C is made by the registered owner of the motor vehicle;
the motor vehicle is a replaced vehicle mentioned in rule 9C(1)(a) in that application;
pursuant to that application, a certificate of entitlement is issued for a replacement vehicle mentioned in rule 9C(1)(b) to replace the replaced vehicle mentioned in paragraph (e).