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No. S 205

Residential Property Act

Chapter 274

Residential Property (Variation of Exemption No. 1/1987) Notification 2000

In exercise of the powers conferred by section 32(2) of the Residential Property Act, the Minister for Law hereby makes the following Notification:

Citation and commencement

1. This Notification may be cited as the Residential Property (Variation of Exemption No. 1/1987) Notification 2000 and shall come into operation on the 14th April 2000.

Variation of conditions

2. The conditions imposed by the Minister on the DBS Land Limited as set out in Document (28) E125 dated 21st September 1987 are hereby varied as set out in Document (28) E125 [Variation No. 1/1987] dated 12th April 2000.

Made this 12th day of April 2000.

NIAM CHIANG MENG
Permanent Secretary,
Ministry of Law,
Singapore.

Document (28) E 125

[Variation of Exemption No. 1/1987]

RESIDENTIAL PROPERTY ACT

(CHAPTER 274)

Conditions imposed by the Minister for Law on DBS Land Limited varying conditions as set out in Document (28) E125, pursuant to section 32(2) of the Residential Property Act —

The exemption granted to DBS Land Limited shall be revoked if at any time the total voting rights attributable to the share capital of DBS Land Limited held by Singapore citizens and residents within the meaning of the Income Tax Act and who pay tax under that Act, falls below fifty percent;

(b)

DBS Land Limited shall file with the Controller of Residential Property a statutory declaration made by its director or secretary once every consecutive year [on or before the 1st day of July as from 2000] furnishing the percentage of share capital held by Singapore citizens and residents within the meaning of the Income Tax Act and who pay income tax under that Act.

Dated this 12th day of April 2000.

(Ms) FOO TUAT YIEN

Controller of Residential Property.

[LAW 26/002/003 Vol. 4; LDU E 128]