No. S 364
Stamp Duties Act
(Chapter 312)
Stamp Duties (Real Estate Investment Trusts) (Remission) Rules 2007
In exercise of the powers conferred by sections 74 and 77 of the Stamp Duties Act, the Minister for Finance hereby makes the following Rules:
Citation and commencement
1.  These Rules may be cited as the Stamp Duties (Real Estate Investment Trusts) (Remission) Rules 2007 and shall be deemed to have come into operation on 1st January 2006.
2.  In these Rules —
“immovable property-related assets” means listed or unlisted debt securities and listed shares issued by property corporations, mortgage-backed securities, other property funds, and assets incidental to the ownership of immovable property;
“real estate investment trust” means a trust that is constituted as a collective investment scheme authorised under section 286 of the Securities and Futures Act (Cap. 289) and that invests or proposes to invest in immovable property and immovable property-related assets.
Remission of duty
3.  There shall be remitted all duty chargeable under the Act on any contract, agreement or instrument executed during the period from 1st January 2006 to 17th February 2010 (both dates inclusive) relating to the conveyance, assignment or transfer on sale to a real estate investment trust that —
(a)is listed on the Singapore Exchange; or
(b)is to be listed on the Singapore Exchange —
(i)within one month from the execution of such conveyance, assignment or transfer; or
(ii)within such longer period, and on such terms and conditions, as the Minister or such other person as he may appoint may specify,
of 100% of the issued share capital or of the interest therein of any company incorporated in Singapore —
(A)that holds, directly or indirectly, immovable property situated outside Singapore; and
(B)that was set up for the sole purpose of holding, directly or indirectly, such property.

Made this 3rd day of July 2007.

Permanent Secretary,
Ministry of Finance,
[MF (R) R54.003.0001 Vol. 40; AG/LEG/SL/312/2005/3 Vol. 1]