Stamp Duties (Instruments on or before 7th December 2011) (Remission) Order 2011

No. S 695

Stamp Duties Act

(CHAPTER 312)

Stamp Duties
(Instruments on or before
7th December 2011) (Remission)
Order 2011

In exercise of the powers conferred by section 74 of the Stamp Duties Act, the Minister for Finance hereby makes the following Order:

Citation and commencement

1. This Order may be cited as the Stamp Duties (Instruments on or before 7th December 2011) (Remission) Order 2011 and shall be deemed to have come into operation on 8th December 2011.

Remission of duty for option granted on or before 7th December 2011 and subsequent conveyance

2.—(1) There shall be remitted all duty under paragraph (bc) of Article 3 of the First Schedule to the Act chargeable on a contract or agreement for the sale of residential property to a purchaser that is conditional on the exercise of an antecedent option, and on any conveyance or transfer of that property to the purchaser.

(2) For the purposes of paragraph (1), an antecedent option means an option that —

(a)	is granted on or before 7th December 2011;
(b)	is exercised on or before 28th December 2011, or the date of expiry of the validity period of the option, whichever is earlier; and
(c)	has not been varied at any time after 7th December 2011.

(3) In paragraph (2)(b), the date of expiry of the validity period of an option includes any extension of the period if the extension is granted on or before 7th December 2011, but not otherwise.

Remission of duty for conveyance if agreement made on or before 7th December 2011

3. There shall be remitted all duty under paragraph (bc) of Article 3 of the First Schedule to the Act chargeable on a conveyance or transfer of residential property, if the contract or agreement for the sale of the property to the grantee, transferee or lessee is made on or before 7th December 2011.

Made this 22nd day of December 2011.

CHAN LAI FUNG

Permanent Secretary
(Finance) (Performance),
Ministry of Finance,
Singapore.

[MOF (R) 054.1.0001. V24.; AG/LLRD/SL/312/2010/19 Vol. 1]

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