No. S 214
Housing and Development Act
(Chapter 129)
Housing and Development (Interest and Penalties for Late Payment of Improvement Contributions) (Amendment) Rules 2008
In exercise of the powers conferred by section 65K of the Housing and Development Act, the Minister for National Development hereby makes the following Rules:
Citation and commencement
1.  These Rules may be cited as the Housing and Development (Interest and Penalties for Late Payment of Improvement Contributions) (Amendment) Rules 2008 and shall come into operation on 1st May 2008.
Amendment of rule 3
2.  Rule 3 of the Housing and Development (Interest and Penalties for Late Payment of Improvement Contributions) Rules 2005 (G.N. No. S 660/2005) (referred to in these Rules as the principal Rules) is amended by deleting paragraphs (2) to (6) and substituting the following paragraphs:
“(2)  Subject to paragraph (1), any lessee or owner who fails to pay to the Board any improvement contribution or instalment due from him shall be liable to pay to the Board, in respect of the improvement contribution or instalment or any part thereof in arrears, for every month in which the improvement contribution or instalment or any part thereof is in arrears, a penalty until all of the improvement contribution or instalment or part thereof in arrears is paid.
(3)  The penalty referred to in paragraph (2) shall be as follows:
(a)in relation to any flat that is not a commercial property, a sum that is calculated at a rate that is 2% above such rate as may be determined by the Minister for Finance for the financial year in which the improvement contribution or instalment or any part thereof is in arrears, being a determination that takes into account the average prime lending rate for the last quarter of the year immediately preceding that financial year; and
(b)in relation to a flat that is a commercial property —
(i)8% per annum; or
(ii)a sum that is calculated at such rate as may be determined by the Minister for Finance for the financial year in which the improvement contribution or instalment or any part thereof is in arrears.”.
Amendment of rule 4
3.  Rule 4(2) of the principal Rules is amended by deleting sub-paragraph (b) and substituting the following sub-paragraph:
“(b)where he is the lessee or owner of a commercial property (irrespective of citizenship) —
(i)5% per annum; or
(ii)such rate as may be determined by the Minister for Finance for the financial year in which the improvement contribution or any part thereof is in arrears, being a determination that takes into account the average prime lending rate for the last quarter of the year immediately preceding that financial year.”.
Deletion of Schedule
4.  The Schedule to the principal Rules is deleted.
[G.N. No. S 726/2007]

Made this 15th day of April 2008.

TAN TEE HOW
Permanent Secretary,
Ministry of National Development,
Singapore.
[ND 311/4-105 Vol. 33; AG/LEG/SL/129/2005/8 Vol. 1]
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