8. The principal Act is amended by inserting, immediately after section 84, the following Part:“PART VA COLLECTIVE SALE OF PROPERTY |
Application for collective sale of parcel by majority of subsidiary proprietors who have made conditional sale and purchase agreement |
84A.—(1) An application to a Board for an order for the sale of all the lots and common property in a strata title plan may be made by —(a) | the subsidiary proprietors of the lots with not less than 90% of the share values where less than 10 years have passed since the date of the issue of the latest Temporary Occupation Permit on completion of any building comprised in the strata title plan or, if no Temporary Occupation Permit was issued, the date of the issue of the latest Certificate of Statutory Completion for any building comprised in the strata title plan, whichever is the later; or | (b) | the subsidiary proprietors of the lots with not less than 80% of the share values where 10 years or more have passed since the date of the issue of the latest Temporary Occupation Permit on completion of any building comprised in the strata title plan or, if no Temporary Occupation Permit was issued, the date of the issue of the latest Certificate of Statutory Completion for any building comprised in the Strata Title Plan, whichever is the later, |
who have agreed in writing to sell all the lots and common property in the strata title plan to a purchaser under a sale and purchase agreement which specifies the proposed method of distributing the sale proceeds to all the subsidiary proprietors (whether in cash or kind or both), subject to an order being made under subsection (6) or (7). |
(2) The subsidiary proprietors referred to in subsection (1) shall appoint not more than 3 persons from among themselves to act jointly as their authorised representatives in connection with any application made under that subsection. |
(3) No application may be made under subsection (1) by the subsidiary proprietors referred to in that subsection unless they have complied with the requirements specified in the Fourth Schedule and provided an undertaking to pay the costs of the Board under subsection (5). |
(4) A subsidiary proprietor of any lot in the strata title plan who has not agreed in writing to the sale referred to in subsection (1) and any mortgagee, chargee or other person (other than a lessee) with an estate or interest in land and whose interest is notified on the land register for that lot may each file an objection with a Board stating the grounds for the objection within 21 days of the date of the notice served pursuant to the Fourth Schedule or such further period as the Board may allow. |
(5) The Board shall have power —(a) | to mediate in any matter arising from an application made under subsection (1); and | (b) | to call for a valuation report or other report and to require the subsidiary proprietors referred to in subsection (1) to pay for the costs. |
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(6) Where an application has been made under subsection (1) and no objection has been filed under subsection (4), the Board shall, subject to subsection (9), approve the application and order that the lots and common property in the strata title plan be sold. |
(7) Where one or more objections have been filed under subsection (4), the Board shall, subject to subsection (9), after mediation, if any, approve the application made under subsection (1) and order that the lots and common property in the strata title plan be sold unless, having regard to the objections, the Board is satisfied that —(a) | any objector, being a subsidiary proprietor, will incur a financial loss; or | (b) | the proceeds of sale for any lot to be received by any objector, being a subsidiary proprietor, mortgagee or chargee, are insufficient to redeem any mortgage or charge in respect of the lot. |
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(8) For the purposes of subsection (7)(a), a subsidiary proprietor —(a) | shall be taken to have incurred a financial loss if the proceeds of sale for his lot, after any deduction allowed by the Board, are less than the price he paid for his lot; | (b) | shall not be taken to have incurred a financial loss by reason only that his net gain from the sale of his lot will be less than the other subsidiary proprietors. |
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(9) The Board shall not approve an application made under subsection (1) if the Board is satisfied that —(a) | the transaction is not in good faith after taking into account only the following factors: (i) | the sale price for the lots and the common property in the strata title plan; | (ii) | the method of distributing the proceeds of sale; and | (iii) | the relationship of the purchaser to any of the subsidiary proprietors; or |
| (b) | the sale and purchase agreement would require any subsidiary proprietor who has not agreed in writing to the sale to be a party to any arrangement for the development of the lots and the common property in the strata title plan. |
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(10) Where no objection has been filed under subsection (4), the determination under subsection (9) shall be made by the Board on the basis of the facts available to the Board. |
(11) The Board may make all such other orders and give such directions as may be necessary or expedient to give effect to any order made under subsection (6) or (7). |
(12) The Board may, at any time it thinks fit, extend, vary, revoke or discharge any order made under this section, and may vary any term or condition upon or subject to which any such order has been made. |
(13) A notice sent by registered post under the Fourth Schedule shall be deemed to be duly served on the person to whom it is addressed 2 days after the day on which the notice was posted, notwithstanding the fact that the letter may be return by the post office as undelivered. |
(14) The Minister may, by order published in the Gazette, amend or act to the Fourth Schedule. |
(15) For the purposes of this section, “subsidiary proprietor” includes a successor in title. |
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84B.—(1) Where a Board has made an order under section 84A(6), (7) or (11) —(a) | the order shall bind all the subsidiary proprietors of the lots in the strata title plan, their successors in title and assigns and any mortgagee, chargee or other person with an estate or interest in land; | (b) | the subsidiary proprietors of the lots shall sell the lots and common property in accordance with the sale and purchase agreement; and | (c) | a lease affecting any of the lots in the strata title plan (other than a lease held by a subsidiary proprietor) shall, if there is no earlier agreed date, determine on the date on which vacant possession is to be given to the purchaser of the lots and common property. |
(2) Nothing in subsection (1)(c) shall prejudice the rights of any lessee of a subsidiary proprietor to compensation from the subsidiary proprietor. |
(3) A subsidiary proprietor of a lot who has not agreed in writing to a sale under section 84A or any lessee of the lot may, at any time after an application has been made under section 84A(1) and before the Board has approved the application for sale, apply to the Board to determine the amount of compensation payable to the lessee. |
(4) The subsidiary proprietors of the lots who have not agreed in writing to the sale under section 84A and any mortgagee, chargee or other person with an estate or interest in those lots shall, for the purposes of the sale of the lots and common property, produce the certificates of title for the lots to the person having conduct of the sale, the representatives appointed under section 84A(2) or to their solicitors. |
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Power of Board to appoint person to act for certain subsidiary proprietor |
84C.—(1) Where a Board has made an order under section 84A(6), (7) or (11), the Board may, on application by the representatives of the subsidiary proprietors appointed under section 84A(2), appoint any person to deal with all matters in connection with the sale of any lot —(a) | where the subsidiary proprietor of the lot has died and no personal representative has been appointed; or | (b) | in such other case as the Board thinks fit. |
(2) The Board may authorise the person appointed under subsection (1) to act for the subsidiary proprietor concerned in all aspects of the sale, including the redemption of mortgages and charges, the execution of the transfer, the receipt of moneys, the settlement of encumbrances on the lot, applying for a replacement or subsidiary certificate of title, giving valid receipts thereof and as soon as practicable paying the remaining moneys into court under section 65 of the Trustees Act (Cap. 337). |
(3) The execution of any instrument in respect of any lot by the person appointed under subsection (1) shall have the same force and validity as if it had been executed by the subsidiary proprietor in whom the lot is vested. |
(4) When the transfers of the lots in the strata title plan are lodged for registration under this Act, the authorised representatives or the solicitor acting for the subsidiary proprietors or the person appointed under subsection (1) shall certify in such form as the Registrar may approve that the provisions of section 84A have been complied with; and the certificate in favour of the purchaser of the lots and common property and the Registrar shall be conclusive evidence of the facts stated therein. |
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Application for collective sale of parcel not registered under Act by majority of proprietors where proprietors of flats own the land |
84D.—(1) This section shall apply where there are subsisting leases of flats in a development registered under the Registration of Deeds Act (Cap. 269) or the Land Titles Act (Cap. 157) and the proprietors of the flats own the land comprised in the development.(2) An application to a Board for an order for the sale of all the flats and the land in a development to which this section applies may be made by —(a) | the proprietors of the flats who own not less than 90% share of the land where less than 10 years have passed since the date of the issue of the latest Temporary Occupation Permit on completion of any building comprised in the development or, if no Temporary Occupation Permit was issued, the date of the issue of the latest Certificate of Statutory Completion for any building comprised in the development, whichever is the later; or | (b) | the proprietors of the flats who own not less than 80% share of the land where 10 years or more have passed since the date of the issue of the latest Temporary Occupation Permit on completion of any building comprised in the development or, if no Temporary Occupation Permit was issued, the date of the issue of the latest Certificate of Statutory Completion for any building comprised in the development, whichever is the later, |
who have agreed in writing to sell all the flats and the land in the development to a purchaser under a sale and purchase agreement which specifies the proposed method of distributing the sale proceeds to all the proprietors of the flats (whether in cash or kind or both), subject to an order being made under subsection (4) or (5). |
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(3) A proprietor of any flat in the development who has not agreed in writing to the sale referred to in subsection (2) and any mortgagee, chargee or other person (other than a lessee) with an estate or interest in the flat and whose interest is notified on the land register for that flat may each file an objection with a Board stating the grounds for the objection within 21 days of the date of the notice served pursuant to the Fourth Schedule or such further period as the Board may allow. |
(4) Where an application has been made under subsection (2) and no objection has been filed under subsection (3), the Board shall, subject to subsection (7), approve the application and order that the flats and the land in the development be sold. |
(5) Where one or more objections have been filed under subsection (3), the Board shall, subject to subsection (7), after mediation if any, approve the application made under subsection (2) an order that the flats and the land in the development be sold unless, having regard to the objections, the Board is satisfied that —(a) | any objector, being the proprietor, will incur a financial loss; or | (b) | the proceeds of sale for any flat to be received by any objector, being a proprietor, mortgagee or chargee, are insufficient to redeem any mortgage or charge in respect of the flat. |
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(6) For the purposes of subsection (5)(a), a proprietor —(a) | shall be taken to have incurred a financial loss if the proceeds of sale for his flat, after any deduction allowed by the Board, are less than the price he paid for his flat; | (b) | shall not be taken to have incurred a financial loss by reason only that his net gain from the sale of his flat will be less than the other proprietors. |
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(7) The Board shall not approve an application made under subsection (2) if the Board is satisfied that —(a) | the transaction is not in good faith after taking into account only the following factors;(i) | the sale price for the flats and the land in the development; | (ii) | the method of distributing the proceeds of sale; and | (iii) | the relationship of the purchaser to any of the proprietors; or |
| (b) | the sale and purchase agreement would require any proprietor who has not agreed in writing to the sale to be a party to any arrangement for the development of the flats and the land in the development. |
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(8) Where no objection has been filed under subsection (3), the determination under subsection (7) shall be made by the Board on the basis of the facts available to the Board. |
(9) Sections 84A(2), (3), (5), (11), (12) and (13), 84B and 84C shall apply, with the neccessary modifications, to any application or order made under this section. |
(10) For the purposes of this section —“development” means any parcel of land with one or more buildings where the parcel is owned by the proprietors of the flats; |
“proprietor” includes a successor in title. |
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Application for collective sale where proprietors of flats own leasehold estate of at least 999 years or other estate in flats not registered under Act but do not own the land |
84E.—(1) This section shall apply where there are subsisting leases of flats in a development registered under the Registration of Deeds Act (Cap. 269) or the Land Titles Act (Cap. 157) for a leasehold estate of 999 years or more or for such other estate as the Minister may, by notification in the Gazette, specify and where the proprietors of the flats do not own the land comprised in the development.(2) The proprietors of 25% of the flats to which this section applies may apply to the Registrar for notional shares in the land to be assigned to each of the flats based on the method used by the Commissioner for the allocation of share values. |
(3) An application to a Board for an order for the sale of all the flats and the land in a development to which this section applies may be made by —(a) | the proprietors of the flats who own not less than 90% notional share of the land where less than 10 years have passed since the date of the issue of the latest Temporary Occupation Permit on completion of any building comprised in the development or, if no Temporary Occupation Permit was issued, the date of the issue of the latest Certificate of Statutory Completion for any building comprised in the development, whichever is the later; or | (b) | the proprietors of the flats who own not less than 80% notional share of the land where 10 years or more have passed since the date of the issue of the latest Temporary Occupation Permit on completion of any building comprised in the development or, if no Temporary Occupation Permit was issued, the date of the issue of the latest Certificate of Statutory Completion for any building comprised in the development, whichever is the later, |
who have agreed in writing to sell all the flats in the development to a purchaser under a sale and purchase agreement which specifies the proposed method of distributing the sale proceeds to all the proprietors of the flats (whether in cash or kind or both), subject to an order being made under subsection (6) or (7). |
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(4) The proprietors of the flats referred to in subsection (3) shall also serve a copy of the notice to be served pursuant to the Fourth Schedule on the proprietor of the land and every mortgagee, chargee or other person with an estate or interest in the land and whose interest is notified on the land register for that land. |
(5) A proprietor of any flat in the development who has not agreed in writing to the sale referred to in subsection (3) and any mortgagee, chargee or other person (other than a lessee) with an estate or interest in the flat and whose interest is notified on the land register for that flat may each file an objection with a Board stating the grounds for the objection within 21 days of the date of the notice served pursuant to the Fourth Schedule or such further period as the Board may allow. |
(6) Where an application has been made under subsection (3) and no objection has been filed under subsection (5), the Board shall, subject to subsection (9), approve the application and order that the flats and the land in the development be sold. |
(7) Where one or more objections have been filed under subsection (5), the Board shall, subject to subsection (9), after mediation, if any, approve the application made under subsection (3) and order that the flats and the land in the development be sold unless, having regard to the objections, the Board is satisfied that —(a) | any objector, being a proprietor, will incur a financial loss; or | (b) | the proceeds of sale for any flat to be received by any objector, being a proprietor, mortgagee or chargee, are insufficient to redeem any mortgage or charge in respect of the flat. |
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(8) For the purposes of subsection (7)(a), a proprietor —(a) | shall be taken to have incurred a financial loss if the proceeds of sale for his flat, after any deduction allowed by the Board, are less than the price he paid for his flat; | (b) | shall not be taken to have incurred a financial loss by reason only that his net gain from the sale of his flat will be less than the other proprietors. |
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(9) The Board shall not approve an application made under subsection (3) if the Board is satisfied that —(a) | the transaction is not in good faith after taking into account only the following factors: | (i) | the sale price for the flats and the land in the development; | (ii) | the method of distributing the proceeds of sale; and | (iii) | the relationship of the purchaser to any of the proprietors; or | (b) | the sale and purchase agreement would require any proprietor who has not agreed in writing to the sale to be a party to any arrangement for the development of the flats and the land in the development. |
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(10) Where no objection has been filed under subsection (5), the determination under subsection (9) shall be made by the Board on the basis of the facts available to the Board. |
(11) Where a Board has made an order for the sale of the flats and the land, the proprietor of the land shall be deemed to have transferred his estate and interest in the land to the purchaser without consideration upon the registration by the Registrar of the transfers of all the flats (except the flats deemed to be owned by the proprietor under subsection (14)) in the development and the Registrar shall enter a notification of the vesting of the land in the purchaser on the land register. |
(12) The proprietors of the flats who have not agreed in writing to the sale, the proprietor of the land, a mortgagee, chargee or other person with an estate or interest in land, where applicable, shall produce the title deeds for the flats or the land to the person having conduct of the sale, the representatives appointed under section 84A(2) or to their solicitors. |
(13) If the title deeds for the flats or the land are not produced under subsection (12), the person having conduct of the sale shall not be required to produce to the purchaser any title deed other than a certified true copy of the title deed or a subsidiary certificate of title. |
(14) Where the proprietor of the land in a development referred to in subsection (1) has granted leases for some but not all the flats in the development, he shall be deemed to be the proprietor of the flats which are still owned by him. |
(15) Sections 84A(2), (3), (5), (11), (12) and (13), 84B and 84C shall apply, with the necessary modifications, to any application or order made under this section. |
(16) For the purposes of this section —“development” means any parcel of land with one or more buildings; |
“proprietor” includes a successor in title. |
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Application for collective sale by all proprietors of flats who own leasehold estate of at least 999 years or other estate in flats not registered under Act but do not own the land |
84F.—(1) This section shall apply where there are subsisting leases of flats registered under the Registration of Deeds Act (Cap. 269) or the Land Titles Act (Cap. 157) for a leasehold estate of 999 years or more or for such other estate as the Minister may, by notification in the Gazette, specify and where the proprietors of the flats do not own the land comprised in the development.(2) Where the proprietors of all the flats in a development to which this section applies agree in writing under a sale and purchase agreement to sell all their flats to a purchaser (whether in cash or kind or both), they shall serve a notice on the proprietor of the land and every mortgagee, chargee or other person with an estate or interest in the land and whose interest is notified on the land register at least 21 days before the date of the first transfer of any such flat informing them of the transfer under subsection (4). |
(3) Notice under subsection (2) shall be given by —(a) | advertising the proposed sale in such local newspapers in the 4 official languages as approved by the Registrar; | (b) | serving the notice on the proprietor of the land and every mortgagee, chargee or other person with an estate or interest in the land and whose interest is notified on the land register by registered post; and | (c) | affixing a copy of the notice in the 4 official languages to a conspicuous part of each building in the development. |
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(4) The proprietor of the land referred to in subsection (2) shall be deemed to have transferred his estate and interest in the land to the purchaser without consideration upon the registration by the Registrar of the transfers of all the flats in the development and the Registrar shall enter a notification of the vesting of the land in the purchaser on the land register. |
(5) A notice sent by registered post under this section to a proprietor of the land, his mortgagee, chargee or other person with an estate or interest in the land and whose interest is notified on the land register at its last registered address in the case of a company registered under the Companies Act (Cap. 50) or otherwise at its last recorded address at the Registry of Titles or the Registry of Deeds, as the case may be, shall be deemed to have be duly served on the person to whom it is addressed 2 days after the day on which the notice was posted, notwithstanding the fact that the letter may be returned by the post office as undelivered. |
(6) When the transfers of the flats to which this section applies are lodged for registration with the Registrar, the solicitors acting for the proprietors of the flats shall certify in such form as the Registrar may determine that the provisions of this section have been complied with, and the certificate in favour of the purchaser and the Registrar shall be conclusive evidence of the facts stated therein. |
(7) Section 84E(12), (13), (14) and (16) shall apply, with the necessary modifications, to a development to which this section applies.”. |
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