PART 2 PROHIBITION ON PURCHASE OR ACQUISITION OF
RESIDENTIAL PROPERTY BY FOREIGN PERSONS |
| Prohibition on transfer to, or purchase or acquisition by, foreign persons of residential property |
3.—(1) Except as provided in this Act —| (a) | a person must not, whether for consideration or by way of gift inter vivos or otherwise, transfer any residential property or any estate or interest therein to any foreign person; | | (b) | a person must not create any trust for sale in respect of any residential property or any estate or interest therein in favour of any foreign person; and | | (c) | a foreign person must not purchase or acquire any residential property or any estate or interest therein except by way of a mortgage, charge or reconveyance. |
(2) Any —| (a) | transfer of any residential property or of any estate or interest therein by any person to a foreign person made in contravention of subsection (1)(a); | | (b) | trust for sale in respect of any residential property or any estate or interest therein created by any person in favour of any foreign person in contravention of subsection (1)(b); and | | (c) | purchase or acquisition of any residential property or of any estate or interest therein by any foreign person, except by way of a mortgage, charge or reconveyance, made in contravention of subsection (1)(c), |
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| (3) No estate or interest in any residential property belonging to a deceased person who dies on or after 11 September 1973 passes by bequest, succession or inheritance to any foreign person who is beneficially entitled under a will or under any written law governing intestate succession. |
| (4) Where a foreign person would, but for subsection (3), be beneficially entitled to an estate or interest in residential property, the legal personal representatives to whom probate or letters of administration are granted in respect of such residential property are, subject to subsection (5), bound to sell such estate or interest in the residential property to a citizen or an approved purchaser within a period of 5 years from the date of the death of the deceased person, or within any extension thereof allowed under subsection (12), and upon such sale to pay, subject to the law of wills and intestate succession, the proceeds thereof, less any expenses necessarily incurred on such sale or by reason of the administration of a deceased’s estate, to or for or on behalf of the foreign person so beneficially entitled. [35/2010] |
| (5) Where the legal personal representatives have not sold, or have not been able to sell, the estate or interest in the residential property within the period specified in subsection (4), the legal personal representatives or the trustees of the will or estate of the deceased person for the time being must provide to the Controller (within such period not exceeding 6 months as the Controller may require) a statement setting out the particulars of the residential property which has not been sold, giving reasons for their failure or omission to sell. |
(6) The Controller must, after receipt of such statement or where no such statement has been received within the time specified, seek the direction of the Minister, and the Minister may issue to the Controller a notice to attach and sell the residential property, and a copy of such notice must be served on —| (a) | the legal personal representatives to whom probate or letters of administration have been granted in respect of the residential property in question; and | | (b) | the subsisting mortgagees or chargees (if any) of the residential property who appear as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be. |
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| (7) [Deleted by Act 9 of 2006] |
| (8) [Deleted by Act 9 of 2006] |
| (9) [Deleted by Act 9 of 2006] |
| (10) Where the Controller has sold the residential property pursuant to the notice to attach and sell under subsection (6), the Controller must pay the proceeds of the sale less any costs incurred to the legal personal representatives or the trustees of the will or estate of the deceased person for the time being and upon the acknowledgment of the receipt of such proceeds of sale by the legal personal representatives or the trustees, the Controller is discharged from all liability in respect of the application of the proceeds of sale; or the Controller, if he or she is unable to make payment of the proceeds of sale and to obtain such acknowledgment as aforesaid, may make payment into court of such proceeds of sale less all costs incurred thereby. |
| (11) Where payment of the proceeds of sale has been made by the Controller as provided in subsection (10), every foreign person beneficially entitled under a will or by intestate succession is entitled to receive and must be paid such proceeds of sale by the legal personal representatives or trustees of the will or estate of the deceased person for the time being, and in any case where the proceeds of sale have been paid into court, that foreign person is entitled to make application to court for payment out of court of the proceeds of sale to be made to that foreign person, and the payment of the proceeds of sale in either case must be in accordance with the terms of the will or the law of wills or intestate succession, as the case may be. |
| (12) Despite subsections (4) and (6), the Controller may, after receipt of the statement mentioned in subsections (5) and (6), with the approval of the Minister, allow such extension of time, as the Controller may think fit, for the sale of the estate or interest in such residential property. |
| (12A) The Controller may, when allowing an extension of time under subsection (12), impose such conditions as he or she thinks fit, including a condition that the legal personal representatives must provide such security as the Controller may determine for the purposes of complying with any condition imposed by the Controller. [35/2010] |
| (12B) If the legal personal representatives fail to comply with any of the conditions imposed by the Controller under subsection (12A), the Controller may forfeit (in part or whole) the security provided by the legal personal representatives under this section, after giving 21 days’ notice in writing to the legal personal representatives of the Controller’s intention to forfeit the security and the grounds thereof. [35/2010] |
| (12C) The legal personal representatives may, upon receipt of the notice under subsection (12B), appeal to the Minister within 3 months from the date of that notice. [35/2010] |
| (12D) The Minister may determine an appeal under subsection (12C) by confirming or varying the Controller’s decision to forfeit the security, or by ordering the refund (in part or whole) of any security forfeited under subsection (12B); and the decision of the Minister on any such appeal is final and shall not be called in question in any court. [35/2010] |
| (13) The provisions of this Act do not apply to a foreign person who is a surviving joint tenant of any estate or interest in land. [9/2006] |
| (14) In this section, “letters of administration” and “probate” have the meanings given by the Probate and Administration Act 1934. |
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| Residential property held by former citizens and permanent residents |
3A.—(1) Where an individual acquires any residential property (other than non‑restricted residential property) or any estate or interest therein as a citizen or permanent resident of Singapore and subsequently —| (a) | renounces or is deprived of his or her Singapore citizenship on or after 17 January 2011; or | | (b) | cancels his or her Singapore permanent residence on or after 17 January 2011 other than on the ground of becoming a citizen of Singapore, or has his or her Singapore permanent residence terminated by the Government on or after that date, |
| that individual must sell that residential property or estate or interest therein to a citizen of Singapore or an approved purchaser within a period of 2 years from the date of cessation of his or her Singapore citizenship or Singapore permanent residence (as the case may be), or within such longer period as the Minister may allow before the end of those 2 years. |
[35/2010] | (2) Any individual who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 3 years or to both. [35/2010] |
(3) Without affecting subsection (2), where any individual mentioned in subsection (1) does not sell his or her residential property or his or her estate or interest therein within the period allowed under subsection (1), the Minister may issue to the Controller a notice to attach and sell the residential property, and a copy of that notice must be served on —| (a) | the individual concerned and every other owner of the residential property; and | | (b) | each subsisting mortgagee or chargee (if any) who appears as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be. [35/2010] |
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| Flats in buildings and condominiums |
4.—(1) Subject to this section, this Act does not apply to any transfer to or any purchase or acquisition by any foreign person of any estate or interest in any of the following residential properties:| (a) | any flat (including any share in land appurtenant to that flat) that is comprised in any building in a development permitted to be used under the Planning Act 1998 for residential purposes, and that is not a landed dwelling house; | | (b) | any unit comprised in a development which is shown in an approved plan bearing the title “condominium” and issued by the competent authority under the Planning Act 1998; | | (c) | any unit in a development comprising housing accommodation sold under the executive condominium scheme established under the Executive Condominium Housing Scheme Act 1996. |
(2) Despite subsection (1) but subject to subsection (7), a foreign person must not, without the prior approval of the Minister, purchase or acquire (whether in a single transaction or a series of transactions) —| (a) | all the flats in every building in a development permitted to be used for residential purposes under the Planning Act 1998; | | (b) | all the units in a development approved by the competent authority under the Planning Act 1998 as a condominium development; or | | (c) | all the units in a development sold under the executive condominium scheme established under the Executive Condominium Housing Scheme Act 1996. |
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| (3) Any foreign person who contravenes subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000. [35/2010] |
(4) Where a foreign person is convicted of an offence under subsection (3) in respect of any development, the Minister may direct the Controller to serve a notice on that person to divest and transfer, within a period of 6 months from the date of service of the notice on that person or within any extension of time granted by the Minister under subsection (5), all the foreign person’s estate or interest in the entire development, or any flat or unit in that development as the Minister may specify to another person who is not —| (a) | the foreign person’s nominee; or | | (b) | if the foreign person is a company, a related corporation within the meaning of the Companies Act 1967. [S 26/2022 wef 13/01/2022] |
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| (5) The Minister may, on an application being made by a foreign person before the expiry of the period of 6 months from the date of service of the notice mentioned in subsection (4), grant such extension of time as the Minister thinks fit for the transfer of the foreign person’s estate or interest in the development or any flat or unit therein. |
(6) Any foreign person who fails to comply with the Controller’s notice mentioned in subsection (4) shall be guilty of an offence and shall be liable on conviction —| (a) | to a fine not exceeding $100,000; and | | (b) | in respect of a continuing contravention, to an additional fine not exceeding $500 for every day or part of a day the contravention continues, |
| and if the contravention continues after the conviction, the foreign person shall be guilty of a further offence and shall be liable on conviction of this further offence to a further fine not exceeding $1,000 for every day or part of a day during which the contravention continues after conviction. |
[35/2010] |
(6A) For the purposes of subsection (6), where —| (a) | an act or thing is required or directed to be done within a particular period specified in subsection (4) or any extension thereof granted under subsection (5); | | (b) | the failure to do that act or thing within the period or extension mentioned in paragraph (a) constitutes an offence; and | | (c) | that act or thing is not done within the period or extension mentioned in paragraph (a), |
| the obligation to do that act or thing continues, notwithstanding that that period or extension has expired, until that act or thing is done; and a person shall be guilty of a separate offence in respect of each day (including the day of a conviction for any such offence or any later day) or part of a day during which the person continues to refuse or fail to comply with that requirement or direction. |
[35/2010] |
(6B) The court is to, in respect of any defendant charged with committing any offence under subsection (6) —| (a) | take into account any confiscation order made under section 4A before imposing any fine on the defendant; and | | (b) | subject to paragraph (a), leave the confiscation order out of account in determining the appropriate sentence or other manner of dealing with the defendant. [35/2010] |
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| (7) Nothing in subsection (2) prevents a foreign person from acquiring any estate or interest in any development under any agreement, lease or assignment for a term not exceeding 7 years, inclusive of any further term which may be granted by way of an option for renewal. |
| (8) Without prejudice to subsection (6), where a foreign person on whom a notice under subsection (4) has been served fails to satisfy the Controller that the foreign person has divested and transferred the foreign person’s estate or interest in the development concerned or any flat or unit therein within the time limited by subsection (4) or any extension thereof, the Minister may issue to the Controller a notice to attach and sell the estate or interest in the development or any flat or unit therein. |
(9) The notice to attach and sell mentioned in subsection (8) must specify the estate or interest in the development or any flat or unit therein to be attached and sold by the Controller, and a copy of that notice must also be served on —| (a) | the foreign person who is the owner of the estate or interest in the development or any flat or unit therein to be attached and sold; and | | (b) | each subsisting mortgagee or chargee thereof (if any) who appears as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be. |
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(10) In this section —| “approved plan” means a plan approved by the relevant competent authority; |
| “competent authority” means a competent authority appointed under the Planning Act 1998; |
| “landed dwelling house” means a detached house, a semi‑detached house or a terrace house (including a linked house or a townhouse), whether or not comprised within a strata title plan registered under the Land Titles (Strata) Act 1967; |
| “unit” includes a flat or dwelling house. |
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| Confiscation of benefits of offence under section 4(6) |
| 4A.—(1) Where a defendant is convicted of any offence under section 4(6), the court is to, on the application of the Public Prosecutor, make a confiscation order against the defendant in respect of benefits derived by the defendant from the commission of the offence, if the court is satisfied that such benefits have been so derived. [35/2010] | (2) Where the court is satisfied that benefits have been derived by the defendant from the commission of any offence under section 4(6), the court is to, before sentencing or otherwise dealing with the defendant in respect of the offence concerned, determine in accordance with subsections (4) to (8) the amount to be recovered in the defendant’s case by virtue of this section. [35/2010] |
(3) Subject to subsection (7), the benefits derived by a defendant from the commission of any offence under section 4(6) are —| (a) | any estate or interest in the development (including any income accruing from that estate or interest) held by the defendant in contravention of section 4(6); or | | (b) | where that estate or interest is disposed of before conviction, the difference between —| (i) | the sale price or market value of that estate or interest, whichever is the higher; and | | (ii) | the price paid by the defendant for the purchase or acquisition of that estate or interest. [35/2010] |
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| (4) The amount to be recovered from the defendant under a confiscation order under this section is the amount the court assesses to be the value of the benefits derived by the defendant from the commission of any offence under section 4(6). [35/2010] |
(5) For the purposes of this section —| (a) | the value of the benefits derived by a defendant from the commission of any offence under section 4(6) is the aggregate of the properties, estates and interests referred to in subsection (3)(a) or (b) (as the case may be) relating to that defendant; | | (b) | the value of the estate or interest in the development mentioned in subsection (3)(a) is the market value of the estate or interest at the date of the conviction or the date of the commission of the offence, whichever is the higher; | | (c) | the market value of the estate or interest in the development mentioned in subsection (3)(b)(i) is the market value of the estate or interest at the date of disposal; and | | (d) | in calculating the value of benefits derived by a defendant from the commission of any offence under section 4(6), any expenses or outgoings of the defendant in connection with the commission of the offence must be disregarded. [35/2010] |
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| (6) Any question of fact to be decided by a court in proceedings under this section is to be decided on a balance of probabilities. [35/2010] |
(7) A benefit derived by a defendant convicted of any offence under section 4(6) must not be taken into account if —| (a) | a confiscation order against the defendant has been made in respect of that benefit under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992; | | (b) | a confiscation order against the defendant has previously been made under this section and that benefit is shown to the court to have been taken into account in determining the amount to be recovered under that order; or | | (c) | a confiscation order against any other defendant has previously been made under this section in relation to an offence committed in the same transaction as the offence by the firstmentioned defendant and that benefit (being an estate or interest mentioned in subsection (3)(a)) is shown to the court to have been taken into account in determining the amount to be recovered under the order against that other defendant. [35/2010] |
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| (8) Any relevant evidence admitted in the proceedings against the defendant for any offence under section 4(6) must, if the court thinks fit, be taken into account in determining the amount to be recovered under subsection (2). [35/2010] |
(9) Subject to subsection (1), where a court orders the defendant to pay any amount under a confiscation order made under this section —| (a) | section 319 of the Criminal Procedure Code 2010 has effect as if that amount were a fine imposed on the defendant by the court; and | | (b) | for the purposes of section 319(1)(b)(iv) of the Criminal Procedure Code 2010, the term for which the court may direct the defendant to be imprisoned in default of payment of any amount under the confiscation order shall be as follows:| (i) | if the amount does not exceed $2 million — imprisonment for a term not exceeding 5 years; and | | (ii) | if the amount exceeds $2 million — imprisonment for a term not exceeding 10 years. [35/2010] |
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(10) Where —| (a) | a warrant to commit the defendant to prison is issued for a default in payment of an amount ordered to be paid under a confiscation order in respect of any offence under section 4(6); and | | (b) | at the time the warrant is issued, the defendant is liable to serve any term of imprisonment in respect of the offence, |
| the term of imprisonment to be served in default of payment of the amount does not begin to run until after the term mentioned in paragraph (b). |
[35/2010] |
| (11) This section does not apply in respect of any offence committed before 17 January 2011. [35/2010] |
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| Disposal of estate or interest in residential property by foreign companies |
5.—(1) Where, on 11 September 1973, a foreign company is the owner of an estate or interest in any residential property in Singapore, the foreign company is bound to dispose of the same in accordance with this section, unless such foreign company is permitted to retain its estate or interest in the residential property by virtue of section 25 or the residential property or such foreign company is exempted under section 32.| (2) Where, between 11 September 1973 and 1 October 1976, any foreign company was granted approval by the Minister to purchase or acquire any residential property from another foreign company or a Singapore company pursuant to any scheme or arrangement of whatever nature whereby the second‑mentioned foreign company or Singapore company transfers or agrees to transfer the whole or part of its assets or undertaking to the firstmentioned foreign company, including its interests in residential properties in Singapore, whether for consideration or otherwise, the firstmentioned foreign company is, despite the grant of such approval, subject to this section. |
| (3) Every foreign company to which this section applies must, within such period as the Minister may, by notification in the Gazette, direct, provide to the Controller a return setting out the size, location and nature of its estate or interest in all its residential properties and such other particulars as the Controller may require. |
| (4) Where the Controller is satisfied that a foreign company which is required by subsection (1) to dispose of an estate or interest in any residential property in Singapore has failed to dispose of the same on or before 11 September 1983 (or within such further period as the Minister may, by notification in the Gazette, appoint), the Controller may give directions in writing to the foreign company to transfer all its estate or interest in its residential property to any citizen or approved purchaser within such period as the Controller may specify being a period of not less than 90 days and not more than 6 months of the date of service of the direction on the foreign company. |
| (5) A direction given by the Controller under subsection (4) must be served upon the foreign company which is required to transfer its estate or interest in any residential property and its subsisting mortgagees or chargees (if any) who appear as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be. |
| (6) A foreign company which is directed by the Controller to transfer its estate or interest in any residential property and its subsisting mortgagees or chargees who appear as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority (as the case may be) may apply within 60 days of the date of service of the Controller’s direction to the Minister for an extension of the time specified by the Controller under subsection (4) to dispose of the estate or interest in the residential property owned by the foreign company and the Minister may, in his or her discretion, refuse to grant any extension or may grant such an extension of time as the Minister may think fit for the transfer of the estate or interest in the residential property owned by the foreign company to any citizen or approved purchaser. |
(7) Where a foreign company which is directed under subsection (4) to dispose of its estate or interest in any residential property does not satisfy the Controller that it has transferred its estate or interest within the period or within any extension of time granted under subsection (6), the Minister may issue to the Controller a notice to attach and sell the estate or interest in that residential property, and a copy of the notice must be served on —| (a) | the foreign company which is the owner of the estate or interest in the residential property; and | | (b) | each subsisting mortgagee or chargee (if any) who appears as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be. |
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| Attachment and sale of residential property by Controller |
6.—(1) The Controller must, on receipt of any notice to attach and sell, sell by public auction or otherwise to either a citizen or an approved purchaser the estate or interest in the residential property or land specified in the notice at the following time:| (a) | where any application is made to the Controller within the time limited under section 6A(2) or (3) to fix the reserve price for that estate or interest in the residential property or land — at any time after the reserve price is fixed in accordance with section 6A; | | (b) | where no such application to fix the reserve price is made — at any time after the expiry of the time period allowed for any application to fix the reserve price under section 6A(3)(b)(ii). |
(2) In order to attach and sell any estate or interest in any residential property or land specified in any notice to attach and sell, the Controller must lodge with the Registrar —| (a) | in the case of any residential property or land which is registered land — an application in the approved form to register the notice to attach and sell that property or land; or | | (b) | in the case of any other residential property or land — a copy of the notice to attach and sell relating to that property or land. |
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(3) The Registrar must —| (a) | on receipt of the application mentioned in subsection (2)(a) — register the application in the relevant volume and folio of the land‑register in the Land Titles Registry of the Authority and enter the appropriate memorial that the Controller has attached the residential property or land concerned and is empowered to transfer the registered estate or interest in that property or land; or | | (b) | on receipt of the copy of the notice to attach and sell mentioned in subsection (2)(b) — enter a note in the books and other records maintained at the Registry of Deeds of the Authority that the residential property or land concerned has been attached by the Controller. |
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(4) On lodgment of an application or a copy of the notice to attach and sell in accordance with subsection (2), the Controller has the power —| (a) | to sell the estate or interest in the residential property or land described in the application or copy (as the case may be) and all other powers relating or incidental thereto as if the Controller were the proprietor of that estate or interest in the residential property or land; and | | (b) | to execute any instrument to effect a transfer of that estate or interest in the residential property or land, |
| and any such transfer executed by the Controller is conclusive and shall not be challenged or called in question in any court. |
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(5) The foreign person whose estate or interest in the residential property or land remains the subject of any notice to attach and sell, or its subsisting mortgagee or chargee (if any) must —| (a) | within a period of 21 days after the reserve price for that estate or interest is fixed under section 6A; or | | (b) | if no application to fix the reserve price is made under section 6A, within a period of 21 days beginning on the date immediately following the expiry of the period specified in subsection (1)(b), |
| deliver to the Controller the title deed or certificate of title of the residential property or land (as the case may be) and in default of such delivery, the Controller is not obliged to produce to the purchaser of such estate or interest in the residential property or land any other title apart from the certified true copy of the title deed or a replacement certificate of title thereto. |
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| (6) Where the Controller is unable to sell any estate or interest in the residential property or land at or above the reserve price fixed under section 6A for that estate or interest, the Controller must postpone the sale for a period of 2 years, and thereafter must proceed to sell that estate or interest in the residential property or land (as the case may be) by public auction or otherwise at any price, whether that price is higher or lower than the reserve price. |
(7) Where the Controller has sold an estate or interest in any residential property or land under this section, the Controller must without delay apply those proceeds of sale —| (a) | firstly, in payment of all costs (such as legal costs, survey costs and valuation costs), charges and expenses properly incurred incidentally to or in connection with the sale of the property or land (including any previous unsuccessful sale under this section) between the date of the notice to attach and sell that property or land and the date of the sale (both dates inclusive); | | (b) | secondly, in payment of all financial penalties payable under this Act in respect of the residential property or land sold; and | | (c) | thirdly, in payment of the balance, in order of priority, to the foreign person who was the owner of the estate or interest in the residential property or land sold and any person having a prior interest to such owner or representative as shown in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be, |
| except that where there is any dispute as to the apportionment of these proceeds between the persons mentioned in paragraph (c), the Controller must pay the balance into court. |
[35/2010] |
| (8) Nothing in this section prevents a foreign person on whom a copy of a notice to attach and sell is served from selling on the foreign person’s own accord the foreign person’s estate or interest in the residential property or land concerned to a citizen or an approved purchaser. |
| (9) Where a foreign person has sold on the foreign person’s own accord the foreign person’s estate or interest in the residential property or land concerned under subsection (8), the foreign person shall be liable to reimburse the Controller for all legal costs, survey costs, valuation costs and any other costs, charges and expenses incurred by the Controller with a view to a sale (including any previous unsuccessful sale) under this section of the property or land between the date of that notice to attach and sell and the date the Controller is informed by the foreign person that the property or land has been sold by the foreign person (both dates inclusive). |
| (10) Where the Controller is of the opinion that circumstances have arisen since the lodgment of the application or copy of the notice mentioned in subsection (2) which renders the sale of any estate or interest in any residential property or land concerned impracticable, whether on account of an earlier sale by a person permitted under subsection (8) or the occurrence of an event, such as the winding up of a foreign company, the issue of an order of attachment for the same property or land by any court or otherwise, the Controller must refer the relevant particulars of the residential property or land to the Minister with a statement setting out his or her reasons as to why it is impracticable to sell the property or land. |
| (11) The Minister may, on receipt of the Controller’s statement under subsection (10), countermand his or her direction to the Controller to attach and sell the estate or interest in the residential property or land in question by cancelling his or her notice to attach and sell that residential property or land. |
(12) Where the Minister has, under subsection (11), countermanded his or her direction to the Controller to attach and sell any residential property or land, the Registrar must —| (a) | in the case of any residential property or land which is registered land — cancel the registration of the notice to attach and sell that property or land on receipt from the Controller of an application for that purpose made in the approved form; or | | (b) | in the case of any other residential property or land — register a memorial of discharge of the notice to attach and sell that property or land, |
| and thereafter, the Controller does not have any power mentioned in subsection (4) in relation to any estate or interest in that residential property or land. |
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(13) In this section and section 6A, any reference to a foreign person includes —| (a) | a reference to a mortgagee or chargee; or | | (b) | a reference to the person’s legal personal representatives if he or she is deceased and a notice has been issued by the Minister under section 3(6) in relation to any estate or interest of the foreign person in residential property or land. |
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6A.—(1) Where the Minister has issued a notice to attach and sell an estate or interest in any residential property or land specified in the notice, the following persons may, subject to subsection (3), apply to the Controller to fix a reserve price for that estate or interest in the residential property or land:| (a) | any foreign person who is the owner of that estate or interest in the residential property or land, or the foreign person’s legal personal representatives if he or she is deceased; | | (b) | the mortgagee or chargee of that residential property or land first entitled in priority (called in this section the first mortgagee or chargee); or | | (c) | any mortgagee or chargee of that residential property or land next or subsequently entitled in priority (called in this section the subsequent mortgagee or chargee). |
| (2) Any application under subsection (1) by a foreign person must be made no later than 28 days after the foreign person receives a copy of the notice to attach and sell. |
(3) An application under subsection (1) by a mortgagee or chargee of any residential property or land must be made as follows:| (a) | in the case of the first mortgagee or chargee —| (i) | if and only if there is no application under subsection (1) by the owner of the same residential property or land, or the owner’s legal personal representative if he or she is deceased; and | | (ii) | no later than 45 days after the expiry of the period limited under subsection (2) for the owner or the owner’s legal personal representative to make such an application; or |
| | (b) | in the case of a subsequent mortgagee or chargee —| (i) | if and only if there is no application under subsection (1) by the owner of the same residential property or land, or the owner’s legal personal representative if he or she is deceased, and there is no application under this subsection by the first mortgagee or chargee; and | | (ii) | no later than 45 days after the expiration of the period limited under paragraph (a)(ii) for the first mortgagee or chargee to make such an application. |
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| (4) The reserve price for any estate or interest in any residential property or land is the mean average of 2 valuations of that property or land, namely, one submitted by a valuer appointed by the Controller and the other by a licensed valuer appointed by the foreign person or the mortgagee or chargee (as the case may be), applying to fix the reserve price. |
| (5) The expenses of any valuation made under this section must be borne by the foreign person (or by the foreign person’s estate if he or she is deceased) or the mortgagee or chargee applying to fix a reserve price under subsection (1), as the case may be. |
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| Foreign companies to file declarations with Controller |
7.—(1) Subject to subsection (2), where, on 11 September 1973, a foreign company was the owner of an estate or interest in any land in Singapore, the foreign company must, within the period of 6 months of 1 October 1982, file with the Controller a declaration made by its director or secretary or its representative in Singapore setting out —| (a) | the location and Government survey lot number of the land which has been disposed of by sale or otherwise; and | | (b) | in respect of any land which has not been disposed of —| (i) | the size, location, Government survey lot number, nature of its estate or interest in such land; | | (ii) | the purpose for which the land is currently used; and | | (iii) | such further particulars as the Controller may require. |
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| (2) Subsection (1) does not apply to a foreign company which is exempted under section 32. |
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| Section 5 not applicable to foreign natural persons or societies |
| 8. Section 5 does not require any foreign person who is a natural person or a society to dispose of any estate or interest in any residential property vested in the foreign person or, in the case of a society, vested in its trustees, immediately before 11 September 1973. |
| Position of Singapore entities with residential properties wishing to become or becoming converted entities |
| 9.—(1) A Singapore company which is the owner of any estate or interest in any residential property that is not non‑restricted residential property, whether purchased or acquired before, on or after 11 September 1973 must not, on or after 1 October 1976, become a converted foreign company without first seeking and obtaining the written approval of the Controller, in the manner provided in section 26, for such conversion and for the retention of all its estate or interest in all or in one or more of those residential properties which such Singapore company intends should remain vested in the converted foreign company upon such conversion. [35/2010] | (2) A Singapore limited liability partnership which is the owner of any estate or interest in any residential property that is not non‑restricted residential property, whether purchased or acquired before, on or after 11 April 2005 must not become a converted foreign limited liability partnership without first seeking and obtaining the written approval of the Controller, in the manner provided in section 26, for such conversion and for the retention of all its estate or interest in all or in one or more of those residential properties which such Singapore limited liability partnership intends should remain vested in the converted foreign limited liability partnership upon such conversion. [35/2010] |
| (3) A Singapore society which is the owner of any estate or interest in any residential property that is not non‑restricted residential property purchased or acquired on or after 11 September 1973 must not, on or after 1 October 1976, become a converted society without first seeking and obtaining the written approval of the Controller, in the manner provided in section 26, for such conversion and for the retention of all its estate or interest in all or in one or more of those residential properties which such Singapore society intends to retain after conversion. [35/2010] |
(4) If the written approval sought under subsection (1), (2) or (3) is granted in respect of such conversion and for the retention of all or one or more of the residential properties in respect of which the Singapore entity sought approval, it must, either before it becomes a converted entity or within a period of 2 years from the date on which it became a converted entity, transfer to any citizen or approved purchaser all its estate or interest —| (a) | in such of its residential properties that are not non‑restricted residential properties in respect of which it has not been granted approval for retention under section 26; and | | (b) | in all its other residential properties that are not non‑restricted residential properties (if any) in respect of which it did not seek approval for such retention. |
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| (5) If the written approval sought under subsection (1), (2) or (3) is not granted in respect of such conversion or for the retention of all of the residential properties in respect of which the Singapore entity sought approval, the Singapore entity must not become a converted entity. |
(6) If any Singapore entity becomes a converted entity in contravention of subsection (5) —| (a) | the converted entity shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000; | | (b) | any person who, by virtue of section 36(3), is guilty of that offence shall be liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 3 years or to both; and | | (c) | the converted entity must, within a period of one year from the date on which it became a converted entity, transfer to any citizen or approved purchaser all its estate or interest in every residential property that is not non‑restricted residential property owned by it. [35/2010] |
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(7) If any Singapore entity becomes a converted entity, without first seeking and obtaining the written approval required under subsection (1), (2) or (3) —| (a) | the converted entity shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $50,000; | | (b) | any person who, by virtue of section 36(3), is guilty of that offence shall be liable on conviction to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 3 years or to both; and | | (c) | the converted entity must, within a period of one year from the date on which it became a converted entity —| (i) | transfer all its estate or interest in all its residential properties that are not non‑restricted residential properties to any citizen or approved purchaser, other than such part of its estate or interest in respect of which it has been granted approval for retention as provided in sub‑paragraph (ii); and | | (ii) | seek and obtain the approval of the Minister under section 25 for the retention of such part of its estate or interest in its residential properties that are not non‑restricted residential properties as are not transferred as provided in sub‑paragraph (i). |
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(8) Where —| (a) | a converted foreign company to which subsection (4) applies has not, at the expiry of a period of 2 years from the date on which it became a converted foreign company, transferred to any citizen or approved purchaser all its estate or interest in the residential properties (that are not non‑restricted residential properties) still remaining vested in it and in respect of which approval for retention was not sought or, if sought, was not granted under section 25 or 26; or | | (b) | a converted foreign company to which subsection (6) or (7) applies has not, at the expiry of a period of one year from the date on which it became a converted foreign company, transferred to any citizen or approved purchaser all its estate or interest in the residential properties (that are not non‑restricted residential properties) still remaining vested in it and in respect of which approval for retention was not sought or, if sought, was not granted under section 25 or 26, |
| the Minister may, by a direction in writing, require such converted foreign company to dispose of all its estate or interest in such remaining residential properties by transferring the same to any citizen or approved purchaser within a period of not less than 6 months from the date of service of such direction by the Minister. |
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| (9) A direction given by the Minister under subsection (8) must be served on the Controller and on such converted foreign company and its subsisting mortgagees or chargees (if any) who appear as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be. |
| (10) At the expiry of the period of 6 months mentioned in subsection (8), the Minister may, in his or her discretion, upon application (with reasons or grounds in support) being made (not later than 30 days of such expiry) by a converted foreign company or any of its mortgagees or chargees who appear as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority (as the case may be), grant such extension of time as the Minister may consider fit, for the transfer to any citizen or approved purchaser of all its estate or interest in such residential properties that are not non‑restricted residential properties and in respect of which approval was not sought for the retention thereof or, if sought, was not obtained under section 25 or 26. |
| (11) Where a converted foreign company which is directed under subsection (8) to dispose of its estate or interest in any residential property does not satisfy the Controller that it has transferred the same within the period of 6 months specified in that subsection or any extended period specified in subsection (10), the Minister may issue to the Controller a notice to attach and sell the estate or interest in that property, and a copy of such notice must be served on the converted foreign company which is the owner of the estate or interest in the residential property and its subsisting mortgagees or chargees (if any) who appear as such in the relevant records in the Land Titles Registry or the Registry of Deeds of the Authority, as the case may be. |
| (12) Subsections (8) to (11) apply, with the necessary modifications, to the procedure for the disposal of any estate or interest in residential property owned by a converted foreign limited liability partnership or a converted society as those subsections apply to the procedure for the disposal of any estate or interest in residential property owned by a converted foreign company. |
| (13) A mortgagee or chargee who, on or after 1 October 1976, grants a loan or advance on a current account for a fixed term exceeding 6 months, secured by a mortgage or charge of any estate or interest in any residential property that is not non‑restricted residential property owned by a Singapore entity may, despite any prior agreement made between the mortgagee or chargee and the mortgagee’s or chargee’s respective mortgagor or chargor for the repayment of that loan or advance, call for the earlier repayment of such loan or advance or any part thereof, by giving 3 months’ prior notice in writing to the mortgagee’s or chargee’s mortgagor or chargor, if such mortgagor or chargor, having represented itself as a Singapore entity, to the mortgagee or chargee at the date of the creation of such mortgage or charge, thereafter, without the written consent of the mortgagee or chargee, becomes a converted entity. |
(14) If the repayment of the loan or advance mentioned in subsection (13) is not made on the expiry of the 3 months’ notice given by the mortgagee or chargee under that subsection, such loan or advance is deemed to be due, and thereupon the mortgagee or chargee may exercise —| (a) | any power expressly provided in the mortgage or charge; | | (b) | any statutory power conferred on a mortgagee or chargee under the Conveyancing and Law of Property Act 1886, the Land Titles Act 1993 or any other written law; or | | (c) | any power implied by law. |
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| Vesting of residential properties in Singapore companies |
10.—(1) Despite anything in any written law, a Singapore company which intends to acquire any estate or interest in any residential property other than non‑restricted residential property must, prior to the vesting of the estate or interest in that residential property in the company, provide the Controller with a list of its directors and members containing the particulars of their nationality and such other particulars as the Controller may require.| (2) The Controller may, if he or she is satisfied that the requirements of subsection (1) are complied with and that the company is a Singapore company, issue to the company a certificate stating that the company may acquire and retain residential properties subject to the provisions of this Act. |
| (3) The Controller may at any time require a Singapore company which has been issued a certificate under subsection (2) to produce its register of members and directors for his or her inspection if the Controller desires to ascertain whether the Singapore company has ceased to be a Singapore company. |
(4) The Controller may at any time cancel a certificate issued under subsection (2) if he or she is satisfied that —| (a) | in the case of a Singapore company which does not own any residential property that is not non‑restricted residential property — the Singapore company has become a foreign company without obtaining the prior written approval of the Controller under section 14; or | | (b) | in the case of a Singapore company which owns any residential property that is not non‑restricted residential property — the Singapore company has become a converted foreign company without obtaining the prior written approval of the Controller under section 26. [35/2010] |
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| (5) The Controller must, upon the application by any Singapore company which is a holder of a certificate issued by the Controller under subsection (2), cancel the certificate if the Controller is satisfied that the Singapore company does not own any residential property that is not non‑restricted residential property. |
| (6) Any Singapore company which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000. [35/2010] |
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| Vesting of residential properties in Singapore limited liability partnerships |
11.—(1) Despite anything in any written law, a Singapore limited liability partnership which intends to acquire any estate or interest in any residential property other than non‑restricted residential property must, prior to the vesting of the estate or interest in that residential property in the limited liability partnership, provide the Controller with a list of its partners containing the particulars of their nationality and such other particulars as the Controller may require.| (2) The Controller may, if he or she is satisfied that the requirements of subsection (1) are complied with and that the limited liability partnership is a Singapore limited liability partnership, issue to the limited liability partnership a certificate stating that the limited liability partnership may acquire and retain residential properties subject to the provisions of this Act. |
| (3) The Controller may at any time require a Singapore limited liability partnership which has been issued a certificate under subsection (2) to produce its register of partners for his or her inspection if the Controller desires to ascertain whether the Singapore limited liability partnership has ceased to be a Singapore limited liability partnership. |
(4) The Controller may at any time cancel a certificate issued under subsection (2) if he or she is satisfied that —| (a) | in the case of a Singapore limited liability partnership which does not own any residential property that is not non‑restricted residential property — the Singapore limited liability partnership has become a foreign limited liability partnership without obtaining the prior written approval of the Controller under section 14A; or | | (b) | in the case of a Singapore limited liability partnership which owns any residential property that is not non‑restricted residential property — the Singapore limited liability partnership has become a converted foreign limited liability partnership without obtaining the prior written approval of the Controller under section 26. [35/2010] |
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| (5) The Controller must, upon the application by any Singapore limited liability partnership which is a holder of a certificate issued by the Controller under subsection (2), cancel the certificate if the Controller is satisfied that the Singapore limited liability partnership does not own any residential property that is not non‑restricted residential property. |
| (6) Any Singapore limited liability partnership which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000. [35/2010] |
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| Registrar may refuse to register instrument of transfer in favour of Singapore company |
12. The Registrar may refuse to register an instrument of transfer of an estate or interest in any residential property that is not non‑restricted residential property in favour of a Singapore company unless he or she is satisfied that —| (a) | all the directors of the company are citizens; and | | (b) | all the members of the company are either citizens, Singapore limited liability partnerships or Singapore companies. |
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| Registrar may refuse to register instrument of transfer in favour of Singapore limited liability partnership |
| 13. The Registrar may refuse to register an instrument of transfer of an estate or interest in any residential property that is not non‑restricted residential property in favour of a Singapore limited liability partnership unless he or she is satisfied that all the partners of the limited liability partnership are either citizens, Singapore limited liability partnerships or Singapore companies. |
| Singapore company becoming foreign company |
14.—(1) Despite anything in any written law, a Singapore company must not become a foreign company unless —| (a) | in the case of a Singapore company which owns any residential property that is not non‑restricted residential property — it has obtained the prior approval of the Controller to become a converted foreign company pursuant to section 26; or | | (b) | in the case of a Singapore company which claims that it does not own any residential property apart from non‑restricted residential property — it has obtained the prior approval of the Controller under subsection (2) to become a foreign company. [35/2010] |
| (2) For the purposes of subsection (1)(b), the Controller must grant the approval for the Singapore company to become a foreign company if he or she is satisfied that the Singapore company does not own any residential property apart from non‑restricted residential property. |
| (3) Upon a Singapore company being granted an approval under subsection (1)(a) or (b), the Controller must cancel the certificate issued to the Singapore company under section 10(2). |
(4) Despite any approval given by the Minister or the Controller for the purposes of subsection (1)(a) or (b), as the case may be, the Controller may —| (a) | if the Controller subsequently discovers that the company owns any residential property in respect of which the Minister or the Controller (as the case may be) has not granted any approval under section 25 or 26 for the company to purchase, acquire or retain the residential property and the residential property is not non‑restricted residential property; or | | (b) | if the Controller subsequently discovers that the company had made a misrepresentation to the Controller, |
| obtain the Minister’s direction to require the company to dispose of the residential property. |
[35/2010] |
| (5) Where any residential property is to be disposed of pursuant to the Minister’s direction obtained under subsection (4), section 9(8) to (14) applies, with the necessary modifications, to the manner of disposal of the residential property and the rights of a mortgagee or chargee (if any) of the residential property. |
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| Singapore limited liability partnership becoming foreign limited liability partnership |
14A.—(1) Despite anything in any written law, a Singapore limited liability partnership must not become a foreign limited liability partnership unless —| (a) | in the case of a Singapore limited liability partnership which owns any residential property that is not non‑restricted residential property — it has obtained the prior approval of the Controller to become a converted foreign limited liability partnership pursuant to section 26; or | | (b) | in the case of a Singapore limited liability partnership which claims that it does not own any residential property apart from non‑restricted residential property — it has obtained the prior approval of the Controller under subsection (2) to become a foreign limited liability partnership. [35/2010] |
| (2) For the purposes of subsection (1)(b), the Controller must grant the approval for the Singapore limited liability partnership to become a foreign limited liability partnership if he or she is satisfied that the Singapore limited liability partnership does not own any residential property apart from non‑restricted residential property. |
| (3) Upon a Singapore limited liability partnership being granted an approval under subsection (1)(a) or (b), the Controller must cancel the certificate issued to the Singapore limited liability partnership under section 11(2). |
(4) Despite any approval given by the Minister or the Controller for the purposes of subsection (1)(a) or (b), as the case may be, the Controller may —| (a) | if the Controller subsequently discovers that the limited liability partnership owns any residential property in respect of which the Minister or the Controller (as the case may be) has not granted any approval under section 25 or 26 for the limited liability partnership to purchase, acquire or retain the residential property and the residential property is not non‑restricted residential property; or | | (b) | if the Controller subsequently discovers that the limited liability partnership had made a misrepresentation to the Controller, |
| obtain the Minister’s direction to require the limited liability partnership to dispose of the residential property. |
[35/2010] |
| (5) Where any residential property is to be disposed of pursuant to the Minister’s direction obtained under subsection (4), section 9(8) to (14) applies, with the necessary modifications, to the manner of disposal of the residential property and the rights of a mortgagee or chargee (if any) of the residential property. |
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| Conversion of Singapore company to Singapore limited liability partnership |
14B.—(1) Any certificate issued by the Controller under section 10 to a Singapore company and which is in force immediately before the date of registration of the conversion of the Singapore company to a Singapore limited liability partnership continues in force on and after that date as if it were a certificate issued by the Controller to the Singapore limited liability partnership under section 11(2).| (2) The Singapore limited liability partnership mentioned in subsection (1) must, as soon as practicable after the date of registration of the conversion thereto, notify the Controller of the conversion and of the particulars of the Singapore limited liability partnership, including the nationality of its partners and such other particulars as the Controller may require. |
| (3) The Controller may, if he or she is satisfied that the requirements of subsection (2) are complied with and that the limited liability partnership is a Singapore limited liability partnership, issue to the Singapore limited liability partnership a fresh certificate stating that the limited liability partnership may acquire and retain residential properties subject to the provisions of this Act and upon the issuance of the fresh certificate to the Singapore limited liability partnership, the certificate mentioned in subsection (1) is deemed cancelled. |
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| Conversion of foreign company or converted foreign company to foreign limited liability partnership |
14C.—(1) Any approval granted by the Minister or the Controller (as the case may be) under section 25 or 26 to a foreign company or a converted foreign company to purchase, acquire or retain residential property that is not non‑restricted residential property and which is valid immediately before the date of registration of the conversion of the foreign company or the converted foreign company to a foreign limited liability partnership continues in force on and after that date as if it were an approval granted by the Minister or the Controller (as the case may be) to the foreign limited liability partnership; and —| (a) | if the approval was granted subject to conditions, the foreign limited liability partnership must comply with all the conditions imposed as if the approval had been granted to the foreign limited liability partnership instead of the foreign company or the converted foreign company; and | | (b) | if any undertaking in writing was given by the foreign company or the converted foreign company, such undertaking in writing is deemed to be an undertaking in writing given by the foreign limited liability partnership and is enforceable against the foreign limited liability partnership as if it had been given by the foreign limited liability partnership instead of the foreign company or the converted foreign company. [35/2010] |
| (2) The foreign limited liability partnership mentioned in subsection (1) must, as soon as practicable after the date of registration of the conversion thereto, notify the Controller of the conversion and of the particulars of the foreign limited liability partnership, including the nationality of its partners and such other particulars as the Controller may require. [17/2005] |
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| 15. [Repealed by Act 9 of 2006] |
| Vesting of residential properties in Singapore societies |
16.—(1) Despite anything in any written law, a Singapore society which intends to acquire any estate or interest in any residential property other than non‑restricted residential property must, prior to the vesting of the estate or interest in that residential property in the trustees of the society, provide the Controller with a list of its trustees and members containing the particulars of their nationality and such other particulars as the Controller may require.| (2) The Controller may, if he or she is satisfied that the requirements of subsection (1) are complied with and that the society is a Singapore society, issue to the society a certificate stating that the society may acquire and retain residential properties in accordance with the provisions of this Act. |
| (3) The Controller may at any time require a Singapore society which has been issued a certificate under subsection (2) to produce its list of members and trustees for his or her inspection if the Controller desires to ascertain whether the Singapore society has ceased to be a Singapore society. |
(4) The Controller may at any time cancel a certificate issued under subsection (2) if he or she is satisfied that —| (a) | in the case of a Singapore society which does not own any residential property that is not non‑restricted residential property — the Singapore society has become a foreign society without obtaining the prior written approval of the Controller under section 17; or | | (b) | in the case of a Singapore society which owns any residential property that is not non‑restricted residential property — the Singapore society has become a converted society without obtaining the prior written approval of the Controller under section 26. [35/2010] |
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| (5) The Controller must, upon the application by any Singapore society which is a holder of a certificate issued by the Controller under subsection (2), cancel the certificate if the Controller is satisfied that the Singapore society does not own any residential property that is not non‑restricted residential property. |
| (6) Any Singapore society which contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $10,000. [35/2010] |
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| Singapore society becoming foreign society |
17.—(1) Despite anything in any written law, a Singapore society must not become a foreign society unless —| (a) | in the case of a Singapore society which owns any residential property that is not non‑restricted residential property — it has obtained the prior approval of the Controller to become a converted society pursuant to section 26; or | | (b) | in the case of a Singapore society which claims that it does not own any residential property apart from non‑restricted residential property — it has obtained the prior approval of the Controller under subsection (2) to become a foreign society. [35/2010] |
| (2) For the purposes of subsection (1)(b), the Controller must grant the approval for the Singapore society to become a foreign society if he or she is satisfied that the Singapore society does not own any residential property apart from non‑restricted residential property. |
| (3) Upon a Singapore society being granted an approval under subsection (1)(a) or (b), the Controller must cancel the certificate issued to the Singapore society under section 16(2). |
(4) Despite any approval given by the Minister or the Controller for the purposes of subsection (1)(a) or (b), as the case may be, the Controller may —| (a) | if the Controller subsequently discovers that the society owns any residential property in respect of which the Minister or the Controller (as the case may be) has not granted any approval under section 25 or 26 for the society to purchase, acquire or retain the residential property and the residential property is not non‑restricted residential property; or | | (b) | if the Controller subsequently discovers that the society had made a misrepresentation to the Controller, |
| obtain the Minister’s direction to require the society to dispose of the residential property. |
[35/2010] |
| (5) Where any residential property is to be disposed of pursuant to the Minister’s direction obtained under subsection (4), section 9(8) to (14) applies, with the necessary modifications, to the manner of disposal of the residential property and the rights of a mortgagee or chargee (if any) of the residential property. |
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| Registrar may refuse to register instrument of transfer in favour of Singapore society |
18. The Registrar may refuse to register an instrument of transfer of any estate or interest in any residential property that is not non‑restricted residential property in favour of a Singapore society unless he or she is satisfied that —| (a) | all the members of the society are citizens; and | | (b) | the trustees of the society are either citizens or a trust company licensed under the Trust Companies Act 2005. |
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| Every transfer of land to specify citizenship status of purchaser or place of registration or incorporation of body corporate |
19.—(1) In every instrument of transfer of land (other than a mortgage, charge or reconveyance) lodged with the Registrar on or after 1 July 1977 there must be specified, after the name of the person acquiring an estate or interest in land, the name of the country of which he or she is a citizen, together with the number of the identity card issued to him or her under the National Registration Act 1965 or other evidence of his or her citizenship if he or she is a citizen of Singapore and, if he or she is a citizen of any other country, the number of his or her passport and of his or her identity card (if he or she has been issued with one); and where the purchaser is a body corporate there must be specified its place of registration or incorporation.| (2) Every such person acquiring a title or interest in land under such instrument must certify on the instrument that the particulars specified in accordance with subsection (1) are correct, and if that person employs an advocate and solicitor to act for that person, the advocate and solicitor must so certify in such form as the Registrar may approve. For the purposes of this subsection, the Registrar may require the production of such document as he or she may think fit. |
| (3) The Registrar has the power to refuse registration of any such transfer wherein the particulars required by subsection (1) are not specified or wherein the certification required by subsection (2) has not been effected, and where the Registrar has accepted any such transfer, he or she has the power to cancel the provisional registration of any such transfer or require the person lodging the transfer to withdraw it from registration. |
| (4) Where the Registrar intends to exercise the power conferred on him or her by subsection (3) to cancel the provisional registration of any such transfer or to require the person lodging such transfer to withdraw it from registration, the Registrar must give written notice to that effect, and must not for a period of 6 weeks of the date of the notice cancel the provisional registration of any such transfer; and where any such notice requires the transfer to be withdrawn and if during that period subsection (1) or (2) has not been complied with, the Registrar may cancel the provisional registration of such transfer and is not bound to give any further notice before effecting such cancellation. |
| (5) This section applies to every instrument of transfer of land irrespective of whether the land is residential property or otherwise. |
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20.—(1) The Registrar may presume that every instrument of transfer of land (other than a mortgage, charge or reconveyance) made in favour of a foreign person and lodged for registration with the Registrar is in respect of residential property and that any agreement for sale and purchase of the land was made after 11 September 1973 unless evidence to the contrary is produced to the satisfaction of the Registrar.| (2) Where any person acquiring an estate or interest in land under any such instrument of transfer employs an advocate and solicitor to act for the person, the Registrar may require the advocate and solicitor to provide an appropriate certificate or certificates in such form or forms as the Registrar may require. Such certificates must be endorsed on the instrument of transfer. |
(3) The Registrar has the power to refuse to accept any instrument of transfer for registration or to refuse to complete registration of such instrument —| (a) | where he or she is not satisfied with the evidence produced in accordance with subsection (1); or | | (b) | where any certificate required under subsection (2) has not been provided. |
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| Transfer of estate or interest in residential property vested in foreign person |
21.—(1) Where any estate or interest in any residential property that is not non‑restricted residential property is vested in any foreign person and that foreign person is desirous of transferring the same, the foreign person must not transfer any estate or interest in that residential property to any person other than a citizen or an approved purchaser.| (2) Any transfer made in contravention of subsection (1) is void. |
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| Sale of residential property by mortgagee or chargee |
22.—(1) A mortgagee or chargee, when exercising the mortgagee’s or chargee’s power of sale in respect of any estate or interest in any residential property that is not non‑restricted residential property, must not transfer the estate or interest to a foreign person.| (2) Every mortgagee who, in relation to an estate or interest in any residential property that is not non‑restricted residential property, has obtained an order for foreclosure or who becomes vested by an instrument or otherwise with the entirety of that estate or interest, must sell to a citizen or an approved purchaser that estate or interest within a period of 3 years of the date of such order or of the date of the vesting of such estate or interest in the mortgagee; but the Minister has power to extend the period, from time to time, for such cause as appears to the Minister to be just and reasonable. |
| (2A) The Minister may, when extending the period under subsection (2), impose such conditions as he or she thinks fit, including a condition that the mortgagee must provide such security as the Minister may determine for the purposes of complying with any condition imposed by the Minister. [35/2010] |
| (2B) If a mortgagee fails to comply with any of the conditions imposed by the Minister under this section, the Controller may forfeit (in part or whole) the security provided by the mortgagee under this section, after giving 21 days’ notice in writing to the mortgagee of the Controller’s intention to forfeit the security and the grounds thereof. [35/2010] |
| (2C) A mortgagee may, upon receipt of the notice under subsection (2B), appeal to the Minister within 3 months from the date of that notice. [35/2010] |
| (2D) The Minister may determine an appeal under subsection (2C) by confirming or varying the Controller’s decision to forfeit the security, or by ordering the refund (in part or whole) of any security forfeited under subsection (2B); and the decision of the Minister on any such appeal is final and shall not be called in question in any court. [35/2010] |
| (3) Where such mortgagee does not sell the estate or interest in the residential property that is not non‑restricted residential property within the period specified in subsection (2) (including any extension thereof), the Minister may issue to the Controller a notice to attach and sell the mortgagee’s estate or interest in that residential property. |
| (4) Subsections (2), (2A), (2B), (2C), (2D) and (3) apply only to mortgagees who are foreign persons. [35/2010] |
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| Residential property not to be purchased or acquired by citizen or approved purchaser as nominee of foreign person |
23.—(1) A —| (a) | citizen or approved purchaser must not purchase or acquire any estate or interest in any residential property that is not non‑restricted residential property as a nominee of any foreign person with the intention that the citizen or approved purchaser is to hold it in trust for that foreign person; and | | (b) | foreign person must not authorise or appoint as the foreign person’s nominee any citizen or approved purchaser to purchase or acquire any estate or interest in any residential property that is not non‑restricted residential property with the intention that that citizen or approved purchaser is to hold it in trust for that foreign person. |
| (2) Any trust created in whatever manner or form pursuant to subsection (1) is void and there is no resulting trust in favour of the foreign person; and any contract or covenant between such citizen or approved purchaser and the foreign person in respect of such residential property or any estate or interest therein is void. |
| (3) The Registrar, upon discovering that any instrument of transfer contains any such void trust and the instrument is pending final registration or has been finally registered by the Registrar, must enter a note in that instrument or the registration copy thereof (as the case may be) stating that such trust is void by virtue of subsection (2). |
| (4) Any person who contravenes subsection (1)(a) or (b) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 or to imprisonment for a term not exceeding 3 years or to both. [35/2010] |
(5) The court is to, in respect of any defendant charged with committing any offence under subsection (1)(a) or (b) —| (a) | take into account any confiscation order made under section 23A before imposing any fine on the defendant; and | | (b) | subject to paragraph (a), leave the confiscation order out of account in determining the appropriate sentence or other manner of dealing with the defendant. |
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| Confiscation of benefits of offence under section 23 |
23A.—(1) Where a defendant is convicted of any offence under section 23(1)(a) or (b), the court is to, on the application of the Public Prosecutor, make a confiscation order against the defendant in respect of benefits derived by the defendant from the commission of the offence if the court is satisfied that such benefits have been so derived.| (2) Where the court is satisfied that benefits have been derived by the defendant from the commission of any offence under section 23(1)(a) or (b), the court is to, before sentencing or otherwise dealing with the defendant in respect of the offence concerned, determine in accordance with subsections (4) to (8) the amount to be recovered in the defendant’s case by virtue of this section. |
(3) Subject to subsection (7), the benefits derived by a defendant from the commission of any offence under section 23(1)(a) or (b) are —| (a) | any estate or interest (including any income accruing from such estate or interest) in residential property held in trust by or for the benefit of the defendant in contravention of section 23(1)(a) or (b); or | | (b) | where that estate or interest in residential property is disposed of before conviction, the money, or the market value of any property other than money, paid to or received by the defendant, or another person at the request or direction of the defendant, on account of the disposal of the estate or interest in the residential property. |
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| (4) The amount to be recovered from the defendant under a confiscation order under this section is the amount the court assesses to be the value of the benefits derived by the defendant from the commission of any offence under section 23(1)(a) or (b). |
(5) For the purposes of this section —| (a) | the value of the benefits derived by a defendant from the commission of any such offence is the aggregate of the properties, estates and interests referred to in subsection (3)(a) or (b) (as the case may be) relating to that defendant; | | (b) | the value of the estate or interest in residential property mentioned in subsection (3)(a) is the market value of the estate or interest at the date of conviction or the date of the commission of the offence, whichever is the higher; and | | (c) | in calculating the value of benefits derived by a defendant from the commission of any offence under section 23(1)(a) or (b), any expenses or outgoings of the defendant in connection with the commission of the offence must be disregarded. |
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| (6) Any question of fact to be decided by a court in proceedings under this section is to be decided on a balance of probabilities. |
(7) A benefit derived by a defendant convicted of any offence under section 23(1)(a) or (b) must not be taken into account if —| (a) | a confiscation order against the defendant has been imposed in respect of that benefit under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992; | | (b) | a confiscation order against the defendant has previously been made under this section and that benefit is shown to the court to have been taken into account in determining the amount to be recovered under that order; or | | (c) | a confiscation order against another defendant has previously been made under this section in relation to an offence committed in the same transaction as the offence by the firstmentioned defendant and that benefit, being an estate or interest mentioned in subsection (3)(a), is shown to the court to have been taken into account in determining the amount to be recovered under the order against that other defendant. |
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| (8) Any relevant evidence admitted in the proceedings against the defendant for any offence under section 23(1)(a) or (b) must, if the court thinks fit, be taken into account in determining the amount to be recovered under subsection (2). |
(9) Subject to subsection (1), where a court orders the defendant to pay any amount under a confiscation order —| (a) | section 319 of the Criminal Procedure Code 2010 has effect as if that amount were a fine imposed on the defendant by the court; and | | (b) | for the purposes of section 319(1)(b)(iv) of the Criminal Procedure Code 2010, the term for which the court may direct the defendant to be imprisoned in default of payment of any amount under the confiscation order is as follows:| (i) | if the amount does not exceed $2 million — imprisonment for a term not exceeding 5 years; and | | (ii) | if the amount exceeds $2 million — imprisonment for a term not exceeding 10 years. [15/2010] |
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(10) Where —| (a) | a warrant to commit the defendant to prison is issued for a default in payment of an amount ordered to be paid under a confiscation order in respect of an offence under section 23(1)(a) or (b); and | | (b) | at the time the warrant is issued, the defendant is liable to serve any term of imprisonment in respect of the offence, |
| the term of imprisonment to be served in default of payment of the amount does not begin to run until after the term mentioned in paragraph (b). |
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| (11) This section does not apply in respect of any offence committed before 31 March 2006. |
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| Final registration to be suspended if Act contravened |
24.—(1) The Registrar, if he or she considers or is informed in writing by the Controller that any transfer lodged with the Registrar contravenes any of the provisions of this Act, must not complete the registration of the transfer.(2) The transfer in such event remains provisionally registered and the Registrar must cause an entry to be made —| (a) | in the case of land subject to the provisions of the Land Titles Act 1993 — in the land‑register; and | | (b) | in the case of land subject to the provisions of the Registration of Deeds Act 1988 — in the relevant Index of Land Book and other land records maintained at the Registry of Deeds of the Authority, |
| that final registration is suspended. |
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| (3) No action or claim may be made against the decision of the Registrar to suspend the final registration of the transfer. |
| (4) The party or the advocate and solicitor acting for the party claiming under the transfer or that party’s successors in title or assigns who appear as such in the records of the Registrar must be served with a written notice by the Registrar of such decision and such party, successors in title or assigns may seek a declaration from the court as to whether the transfer contravenes any of the provisions of this Act, and, if so, is to be declared void; if the court makes a declaration that the transfer is void, the declaration must be served on the Registrar, and upon service of the declaration, the Registrar must cancel the registration of the transfer and any relating instrument and make such appropriate entries in the Registrar’s records as may be necessary. |
| (5) All costs incidental to the action taken by the party claiming under the transfer or that party’s successors in title or assigns who appear as such in the records of the Registrar, despite the declaration of the court, must be borne by the party, successors in title or assigns seeking the declaration. |
| (6) If no declaration is sought from the court or if an application to the court for a declaration if made is not served on the Registrar within a period of 6 months of the date of service of the written notice issued and served by the Registrar under subsection (4), or if a declaration made by the court is not served on the Registrar within 21 days of the date of the declaration, the Registrar must, without giving further notice to the party claiming under the transfer or that party’s successors in title or assigns who appear as such in the records of the Registrar, proceed to cancel the registration of the transfer and all relating instruments, and no claim may be made against the Registrar for any loss or damage suffered as a consequence of the cancellation. |
| (7) Where any transfer which contravenes any of the provisions of this Act has been finally registered by the Registrar, the court may, on the application of the Controller, declare that the transfer is void and order rectification of the land‑register by directing that the registration of the transfer and any relating instrument be cancelled; and all costs and expenses of, and incidental to, the application must be borne by the person who transfers any estate or interest in the residential property concerned to a foreign person, and those costs and expenses are recoverable by the Controller from the person who so transfers. |
| (8) Every application to the court made under this section must be by originating application. [Act 25 of 2021 wef 01/04/2022] |
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