Singapore legislation
Regulation 2
of Residential Property (USB Holdings Pte. Ltd. — Exemption) Notification 2024
Regulation 2
Exemption from need for approval to become converted entity
Section 9 of the Act does not apply to USB Holdings Pte. Ltd. (called in this Notification the relevant company), in relation to any residential property that —
(a)
is not non‑restricted residential property;
(b)
is vested in the relevant company immediately before its conversion into a converted entity before, on or after 14 March 2024; and
(c)
is intended for the purpose of development as residential property and with the ultimate purpose of sale or disposal by the relevant company as residential property for profit, after its conversion into a converted entity.