Singapore legislation
Regulation 4
of Town Councils (Expenditure Limits for Lift Upgrading Works) Rules 2005
Regulation 4
Initial spending limit for sinking fund
Subregulation 1
Except as otherwise provided in rule 6, the maximum amount a Town Council may withdraw from its sinking fund to meet the net amount of its expenses in carrying out lift upgrading works shall be $5,000 for each beneficiary flat in respect of which those lift upgrading works are or are to be carried out by the Town Council.
Subregulation 2
In this rule, the net amount of a Town Council’s expenses in carrying out lift upgrading works shall be the amount ascertained by subtracting from the total amount of its expenses in carrying out the lift upgrading works for each beneficiary flat in a precinct the amount of improvement contributions due and payable by the owner or owners of that beneficiary flat in that precinct.