Singapore legislation
Regulation 9
of Gas (Transfer of Property, Rights, Obligations and Liabilities under section 98) Regulations
Regulation 9
Tax, etc.
Subregulation 1
Notwithstanding anything in the Property Tax Act (Cap. 254), SembGas shall be liable for all property tax on the Assets up to and including the day immediately before the Appointed Day.
Subregulation 2
PowerGas shall pay such stamp duty as may be assessed on the Transfer and on any agreement, deed or other document entered into or transferred in connection with or pursuant to the Transfer.
Subregulation 3
Subject to paragraphs (1) and (2), SembGas and PowerGas shall each be liable for any tax imposed on it as a result of the Transfer (including, for the avoidance of doubt, any income tax).
Subregulation 4
Where any party is liable under this regulation to pay any tax or duty, that party shall be liable to indemnify the other party against any costs, losses or liabilities incurred by that other party as a result of the first-mentioned party’s failure to pay such tax or duty by the due date for payment, or (in the case of any stamp duty payable) its failure to submit any document for stamping within the period required under any written law.
Subregulation 5
PowerGas shall pay all registration fees as may be assessed on the Transfer and on any agreement, deed or other document entered into or transferred in connection with or pursuant to the Transfer, and shall be liable to indemnify SembGas against any costs, losses or liabilities incurred by SembGas as a result of any failure by PowerGas to pay such fees by the due date for payment or to submit the agreement, deed or other document for registration within the period required under any written law.