Singapore legislation
Regulation 8
Regulation 8
Withdrawal of surplus money in Project Account where there is no subsisting mortgage
Notwithstanding rule 7, where the land on which a building project is carried out is not subject to any subsisting mortgage, the licensed housing developer may withdraw any surplus money in the Project Account of the building project after deducting the amounts referred to in that rule after the qualified person in charge of the building project has certified in writing that the roofing and internal plastering of all units in the building project have been completed.