PART XV
MISCELLANEOUS
Service of notices
72.—(1)  Any notice required or authorised by this Act to be served shall be in writing.
(2)  Any notice required or authorised by this Act to be served on a lessee or mortgagor shall be sufficient, although only addressed to the lessee or mortgagor by that designation, without his name, or generally to the persons interested, without any name, and notwithstanding that any person to be affected by the notice is absent, or under disability, or unborn, or unascertained.
(3)  Any notice required or authorised by this Act to be served shall be sufficiently served if it is left at the last known place of abode or business in Singapore of the lessee, lessor, mortgagee, mortgagor or other person to be served, or, in case of a notice required or authorised to be served on a lessee or mortgagor, is affixed or left for him on the land or any house or building comprised in the lease or mortgage.
(4)  Any notice required or authorised by this Act to be served shall also be sufficiently served if it is sent by post in a registered letter addressed to the lessee, lessor, mortgagee, mortgagor or other person to be served, by name, at the aforesaid place of abode or business, or office, and if that letter is not returned through the post office undelivered; and that service shall be deemed to be made at the time at which the registered letter would in the ordinary course be delivered.
(5)  This section shall not apply to notices served in proceedings in the court.
Moneys payable under policy of assurance not to form part of the estate of the insured
73.—(1)  A policy of assurance effected by any man on his own life and expressed, before the date of commencement of section 10 of the Insurance (Amendment) Act 2009, to be for the benefit of his wife or of his children or of his wife and children or any of them, or by any woman on her own life and expressed, before the date of commencement of section 10 of the Insurance (Amendment) Act 2009, to be for the benefit of her husband or of her children or of her husband and children or any of them, shall create a trust in favour of the objects therein named, and the moneys payable under any such policy shall not, so long as any object of the trust remains unperformed, form part of the estate of the insured or be subject to his or her debts.
(2)  If it is proved that the policy was effected and the premiums paid with intent to defraud the creditors of the insured, they shall be entitled to receive out of the moneys payable under the policy a sum equal to the premiums so paid.
(3)  The insured may, by the policy or by any memorandum under his or her hand, appoint a trustee or trustees of the moneys payable under the policy, and from time to time appoint a new trustee or new trustees thereof, and may make provision for the appointment of a new trustee or new trustees thereof and for the investment of the moneys payable under any such policy.
(4)  In default of any such appointment of a trustee, the policy shall vest in the insured and his or her legal personal representatives in trust for the purposes aforesaid.
[3/2009 wef 01/09/2009]
(5)  If at the time of the death of the insured or at any time afterwards there is no trustee, or it is expedient to appoint a new trustee or new trustees, a trustee or trustees or a new trustee or new trustees may be appointed by the High Court.
(6)  The receipt of a trustee or trustees duly appointed or, in default of any such appointment or in default of notice to the insurance office, the receipt of the legal personal representative of the insured, shall be a discharge to the office for the sum secured by the policy or for the value thereof in whole or in part.
Co-owner liable to account.
73A.  A joint tenant or tenant in common shall be liable to account to his co-owner for receiving more than his share or proportion of any rents or profits arising from the property.
[Cf. 4 and 5 Ann, c. 3 (Administration of Justice Act 1705)]
[35/93]
Voluntary conveyances to defraud creditors voidable.
73B.—(1)  Except as provided in this section, every conveyance of property, made whether before or after 12th November 1993, with intent to defraud creditors, shall be voidable, at the instance of any person thereby prejudiced.
(2)  This section does not affect the law relating to bankruptcy for the time being in force.
(3)  This section does not extend to any estate or interest in property disposed of for valuable consideration and in good faith or upon good consideration and in good faith to any person not having, at the time of the disposition, notice of the intent to defraud creditors.
[Cf. 13 Eliz. c.5 (1571)]
[Law of Property Act 1925, s. 172]
[35/93]
Voluntary disposition of land how far voidable as against purchasers.
73C.—(1)  Every voluntary disposition of immovable property made with intent to defraud a subsequent purchaser is voidable at the instance of that purchaser.
(2)  For the purposes of this section, no voluntary disposition shall be deemed to have been made with intent to defraud by reason only that a subsequent disposition for valuable consideration was made.
[Cf. 27 Eliz. c.4 (1584-5)]
[Law of Property Act 1925, s. 173]
[35/93]
Rules to regulate conveyancing transactions, etc.
73D.—(1)  The Minister may make rules to regulate conveyancing transactions and the receipt, holding and distribution of conveyancing money.
(2)  Without prejudice to the generality of subsection (1), the rules made under this section may —
(a)specify what constitutes —
(i)a conveyancing transaction; and
(ii)conveyancing money;
(b)prohibit such persons as may be prescribed from holding conveyancing money, except in such circumstances and subject to such conditions as may be prescribed;
(c)require any person referred to in paragraph (b) who receives any conveyancing money to deposit the money with any entity appointed by the Minister under subsection (3);
(d)provide for the receipt, holding and distribution of conveyancing money by any entity referred to in paragraph (c);
(e)prescribe the terms and conditions which shall apply to every conveyancing transaction;
(f)provide for measures to ensure compliance with the requirements of the rules;
(g)provide for any person who is required by the rules to countersign any document for the purpose of facilitating the payment of any conveyancing money to be protected from liability for countersigning that document in accordance with the rules, if his act of countersigning that document —
(i)was done in good faith; and
(ii)did not involve any fraud or wilful misconduct on his part;
(h)provide that any contravention of any provision of the rules shall be an offence punishable with a fine not exceeding $50,000 or with imprisonment for a term not exceeding 3 years or with both;
(i)exempt any person or entity, or any class of persons or entities, from any provision of the rules; and
(j)contain such transitional, savings or other consequential provisions as the Minister considers necessary or expedient.
(3)  The Minister may, by the rules made under this section, appoint, upon such conditions as he may think fit, any entity or class of entities as an entity, or a class of entities, with which conveyancing money may be deposited for the purposes of the rules.
(4)  Where an agreement entered into on or after the date of commencement of section 2(c) of the Conveyancing (Miscellaneous Amendments) Act 2011 in respect of a conveyancing transaction contains any contractual term that is inconsistent with the rules made under this section, that term shall, to the extent of the inconsistency, not have effect.
(5)  The Public Prosecutor may, on such terms and conditions as he may determine, compound any offence under the rules made under this section.
(6)  Where an offence under the rules made under this section is compounded under subsection (5), no further proceedings shall be taken against the person reasonably suspected of having committed the offence.
(7)  The Minister shall designate the public officer who may collect any sum of money paid for the composition of any offence under the rules made under this section.
(8)  All sums collected for the composition of offences under the rules made under this section shall be paid into the Consolidated Fund.
[17/2011 wef 01/08/2011]
Adjudication of certain disputes relating to conveyancing money
73E.—(1)  The Minister may make rules to establish a Scheme for the adjudication of relevant disputes.
(2)  Without prejudice to the generality of subsection (1), the rules made under this section may —
(a)specify the types of disputes (being disputes relating to the receipt, holding and distribution of conveyancing money under the relevant rules) which will constitute relevant disputes;
(b)prescribe the procedure for the adjudication, under the Scheme, of any relevant dispute;
(c)provide for the appointment of an administrator for the Scheme;
(d)provide for the appointment of adjudicators for the Scheme;
(e)provide for the powers of an adjudicator, including —
(i)the power to determine any relevant dispute that is submitted for adjudication under the Scheme;
(ii)the power to order any party to a relevant dispute submitted for adjudication under the Scheme to do one or more of the following:
(A)to comply with any requirement under the relevant rules;
(B)to pay such compensation (including interest for the late completion of a conveyancing transaction) as the adjudicator may determine for any loss caused, by reason of that party’s failure to comply with any requirement under the relevant rules, to any other party to that dispute;
(C)to pay such costs as the adjudicator may determine to any other party to that dispute; and
(iii)if the adjudicator is of the opinion that any dispute submitted for adjudication under the Scheme is not a relevant dispute, or that any issue raised during the adjudication of a relevant dispute falls outside the purview of the Scheme, the power to do either or both of the following:
(A)to determine that the Scheme does not apply to that dispute or issue;
(B)to order the party submitting that dispute or raising that issue to pay such costs as the adjudicator may determine to any other party to that dispute;
(f)provide for an adjudicator’s determination of a relevant dispute submitted for adjudication under the Scheme, and every order made by the adjudicator in relation to that dispute, to be binding on the parties to that dispute, and on any person claiming through or under any such party, unless the determination or order is set aside or varied by the court;
(g)provide for the enforcement of any determination or order of an adjudicator referred to in paragraph (e), including the recovery of any compensation or costs ordered by the adjudicator as a debt;
(h)empower any individual appointed for this purpose by the administrator of the Scheme, or by the persons in whom the management of the administrator is vested, to countersign, on behalf of any party to a relevant dispute, any document which that party has failed to countersign after being ordered to do so by an adjudicator;
(i)provide for an adjudicator to be protected from liability for any thing done or omitted to be done by him for the purposes of an adjudication under the Scheme, if —
(i)the thing was done or omitted in good faith; and
(ii)the thing done or omission did not involve any fraud or wilful misconduct on his part;
(j)provide for the administrator of the Scheme, the persons in whom the management of the administrator is vested, and any appointed individual referred to in paragraph (h) to be protected from liability for any thing done or omitted to be done by all or any of them for the purposes of the Scheme, if —
(i)the thing was done or omitted in good faith; and
(ii)the thing done or omission did not involve any fraud or wilful misconduct on the part of all or any of them; and
(k)provide for the payment of such deposits, expenses, fees and charges for the Scheme (including any deposits, expenses, fees and charges payable to an adjudicator) as may be prescribed.
(3)  Notwithstanding subsections (1) and (2) and the rules made under this section, any party to a relevant dispute may apply to the court to determine that dispute —
(a)at any time before that dispute is submitted for adjudication under the Scheme; or
(b)if that dispute has been submitted for adjudication under that Scheme, at any time before an adjudicator has determined that dispute or made any order referred to in subsection (2)(e) in relation to that dispute.
(4)  Where an adjudicator has determined any relevant dispute submitted for adjudication under the Scheme or made any order in relation to that dispute, any party to that dispute who is dissatisfied with the determination or order may apply to the court, within such period as may be prescribed by the rules made under this section, to set aside or vary the determination or order.
(5)  An application under subsection (3) or (4) shall be —
(a)made by originating summons; and
(b)served on every party to the relevant dispute other than the applicant.
(6)  Where any proceedings in an application under subsection (3) or (4) cause any delay in the completion of any conveyancing transaction, the court hearing the application may extend the time for the completion of that conveyancing transaction and make such other order as the court considers necessary or appropriate.
(7)  In this section —
“adjudicator” means an adjudicator appointed for the Scheme;
“relevant rules” means the rules made under section 73D;
“Scheme” means the Scheme established by the rules made under this section.
[17/2011 wef 01/08/2011]