Comparison View

Formal Consolidation |  Amended Act 37 of 2020
Moratorium
39J.—(1)  Despite any law or anything in an affected agreement, a purchaser of an affected agreement who is notified under section 39I(4) must not take any of the actions described in subsection (2) during the moratorium period described in subsection (3) in relation to the developer’s failure to deliver possession of one or more units of housing accommodation or commercial property to the purchaser under the affected agreement by the original delivery date or extended delivery date, as the case may be (called in this section the subject failure).
(2)  The actions mentioned in subsection (1) are —
(a)making any deduction from any instalment or payment due under the affected agreement for any damages or liquidated damages and any other cost allowed under the affected agreement for a failure by the developer to comply with the delivery date; and
(b)any prescribed action.
(3)  The moratorium period mentioned in subsection (1) —
(a)starts on the day on which the purchaser is notified under section 39I(4) in relation to the affected agreement; and
(b)ends on the earlier of the following:
(i)the day the purchaser is notified under section 39I(6) of the assessor’s certification;
(ii)the prescribed date.
(4)  Where the purchaser makes a deduction in contravention of subsection (2)(a), the purchaser is liable to repay the developer the amounts so deducted and those amounts are recoverable from the purchaser as a debt due to the developer.
(5)  Where any prescribed action in subsection (2)(b) is an action mentioned in section 5(3), then sections 5(5), (7), (9), (10) and (11) and 8(2), (3), (4), (5) and (6) and the regulations under section 5(12) (whichever is applicable), apply with the necessary modifications in relation to that prescribed action as they apply in relation to an action mentioned in section 5(3), and for this purpose —
(a)a reference to the subject inability is to the subject failure;
(b)a reference to the notification for relief is to the notice given to the purchaser under section 39I(4);
(c)a reference to the period mentioned in section 5(7) is to the moratorium period mentioned in subsection (1);
(d)a reference to section 5(2) is to subsection (1); and
(e)a reference to regulations made under section 19 is to regulations made under section 39P.
(6)  Where any prescribed action in subsection (2)(b) is the commencement or continuation of any proceedings against the developer or the developer’s guarantor or surety before a court, an arbitral tribunal or other person or body, then any such proceedings that are already pending at the start of the moratorium period, must be stayed on the lodgment by the developer of a copy of the notice given to the purchaser under section 39I(4) with the court, arbitral tribunal or other person or body before which proceedings are brought, until the end of the moratorium period.
[Act 37 of 2020 wef 01/07/2021]
Informal Consolidation | Amended Act 9 of 2021
Moratorium
39J.—(1)  Despite any law or anything in an affected agreement, a purchaser of an affected agreement who is notified under section 39I(4) must not take any of the actions described in subsection (2) during the moratorium period described in subsection (3) in relation to the developer’s failure to deliver possession of one or more units of housing accommodation or commercial property to the purchaser under the affected agreement by the original delivery date or extended delivery date, as the case may be (called in this section the subject failure).
(2)  The actions mentioned in subsection (1) are —
(a)making any deduction from any instalment or payment due under the affected agreement for any damages or liquidated damages and any other cost allowed under the affected agreement for a failure by the developer to comply with the delivery date; and
(b)any prescribed action.
(3)  The moratorium period mentioned in subsection (1) —
(a)starts on the day on which the purchaser is notified under section 39I(4) in relation to the affected agreement; and
(b)ends on the earlier of the following:
(i)the day the purchaser is notified under section 39I(6) of the assessor’s certification;
(ii)the prescribed date.
(4)  Where the purchaser makes a deduction in contravention of subsection (2)(a), the purchaser is liable to repay the developer the amounts so deducted and those amounts are recoverable from the purchaser as a debt due to the developer.
(5)  Where any prescribed action in subsection (2)(b) is an action mentioned in section 5(3), then sections 5(5), (7), (9), (10) and (11) and 8(2), (3), (4), (5) and (6) and the regulations under section 5(12) (whichever is applicable), apply with the necessary modifications in relation to that prescribed action as they apply in relation to an action mentioned in section 5(3), and for this purpose —
(a)a reference to the subject inability is to the subject failure;
(b)a reference to the notification for relief is to the notice given to the purchaser under section 39I(4);
(c)a reference to the period mentioned in section 5(7) is to the moratorium period mentioned in subsection (1);
(d)a reference to section 5(2) is to subsection (1); and
(e)a reference to regulations made under section 19 is to regulations made under section 39P.
(6)  Where any prescribed action in subsection (2)(b) is the commencement or continuation of any proceedings against the developer or the developer’s guarantor or surety before a court, an arbitral tribunal or other person or body, then any such proceedings that are already pending at the start of the moratorium period, must be stayed on the lodgment by the developer of a copy of the notice given to the purchaser under section 39I(4) with the court, arbitral tribunal or other person or body before which proceedings are brought, until the end of the moratorium period.
[Act 37 of 2020 wef 01/07/2021]