PART I | Citation and commencement |
| 1. These Rules may be cited as the Conveyancing and Law of Property (Conveyancing) Rules 2011 and shall come into operation on 1st August 2011. |
| Application and definitions |
2.—(1) These Rules shall apply to every conveyancing transaction the agreement in respect of which is entered into on or after 1st August 2011.(2) In these Rules, unless the context otherwise requires —| “Academy” means the Singapore Academy of Law established under section 3 of the Singapore Academy of Law Act (Cap. 294A); |
| “Academy’s Rules” means the Singapore Academy of Law (Conveyancing Money) Rules 2011 (G.N. No. S 392/2011); |
| “appointed bank” means an appointed entity which is a bank; |
| “appointed entity” means any entity appointed by the Minister under rule 3; |
| “authorised signatory” means any person who is authorised to sign or countersign any form prescribed for the purposes of these Rules; |
| “Authority” means the Singapore Land Authority established under section 3 of the Singapore Land Authority Act (Cap. 301); |
| “bank” has the same meaning as in the Banking Act (Cap. 19); |
| “cashier’s order” means a bank draft which is drawn by a bank on itself and is payable on demand; |
“Category A payee”, in relation to any conveyancing money, means —| (a) | a person to whom the conveyancing money is payable and who is —| (i) | the Commissioner of Stamp Duties appointed under section 3(1) of the Stamp Duties Act (Cap. 312); | | (ii) | the Commissioner of Lands appointed under section 2D of the State Lands Act (Cap. 314); | | (iii) | the Comptroller of Income Tax appointed under section 3(1) of the Income Tax Act (Cap. 134); or | | (iv) | the Jurong Town Corporation established under section 3 of the Jurong Town Corporation Act (Cap. 150); |
| | (b) | a conveyancing account or conveyancing (CPF) account of —| (i) | in any case where a solicitor takes over from another solicitor the conduct of the conveyancing transaction pursuant to which the conveyancing money is payable, the first-mentioned solicitor; or | | (ii) | in any case where a Singapore law practice is reconstituted as a different Singapore law practice, and the second-mentioned Singapore law practice takes over from the first-mentioned Singapore law practice the conduct of the conveyancing transaction pursuant to which the conveyancing money is payable, the second-mentioned Singapore law practice; or |
| | (c) | in any case where the conveyancing money is in a conveyancing account or conveyancing (CPF) account maintained by a solicitor with an appointed bank, and the solicitor transfers the conveyancing money to a conveyancing account or conveyancing (CPF) account maintained by him with another appointed bank, the conveyancing account or conveyancing (CPF) account maintained by the solicitor with the second-mentioned appointed bank; |
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“Category B payee”, in relation to any conveyancing money, means a person to whom the conveyancing money is payable and who is —| (a) | any vendor, purchaser, assignor, assignee, lessor, lessee, licensor, licensee, landlord, tenant or existing mortgagee of the land which is the subject of the conveyancing transaction pursuant to which the conveyancing money is payable; | | (b) | where any vendor, purchaser, assignor, assignee, lessor, lessee, licensor, licensee, landlord, tenant or existing mortgagee (of the land which is the subject of the conveyancing transaction pursuant to which the conveyancing money is payable) is under receivership, is a bankrupt or is in liquidation, the receiver, the Official Assignee or trustee in bankruptcy, or the Official Receiver or liquidator, as the case may be, of that vendor, purchaser, assignor, assignee, lessor, lessee, licensor, licensee, landlord, tenant or existing mortgagee; | | (c) | in any case where the conveyancing money is to be recovered by or paid, repaid or refunded to the Central Provident Fund Board, or to be paid, repaid or refunded to any account in the Central Provident Fund of a member of the Central Provident Fund, the Central Provident Fund Board; | | (d) | in any case where the subject of the conveyancing transaction pursuant to which the conveyancing money is payable is any land comprised in a strata title plan, the management corporation constituted under section 10A(1) of the Land Titles (Strata) Act (Cap. 158) for that strata title plan; | | (e) | in any case where the subject of the conveyancing transaction pursuant to which the conveyancing money is payable is any HDB property —| (i) | the Housing and Development Board; or | | (ii) | the Town Council established under the Town Councils Act (Cap. 329A) for the Town (as defined in section 2 of that Act) in which the HDB property is located; |
| | (f) | in any case where any property tax is payable under the Property Tax Act (Cap. 254) in respect of the land which is the subject of the conveyancing transaction pursuant to which the conveyancing money is payable, the Comptroller of Property Tax appointed under section 3(1) of that Act; | | (g) | in any case where any goods and services tax is payable under the Goods and Services Tax Act (Cap. 117A) in respect of the land which is the subject of the conveyancing transaction pursuant to which the conveyancing money is payable, the Comptroller of Goods and Services Tax appointed under section 4 of that Act; or | | (h) | in any case where the subject of the conveyancing transaction is any land which passes on the death of a deceased person, and any estate duty is payable under the Estate Duty Act (Cap. 96) on the principal value, ascertained as provided in that Act, of all property which passes on the death of that person, the Commissioner of Estate Duties appointed under section 4(1) of that Act; |
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| “Category C payee”, in relation to any conveyancing money, means any person to whom the conveyancing money is payable who is not a Category A payee or a Category B payee; |
| “Central Provident Fund” means the Central Provident Fund established under the Central Provident Fund Act (Cap. 36); |
| “Central Provident Fund Board” means the Central Provident Fund Board constituted under the Central Provident Fund Act; |
| “change of counter-signatory form” means a form prescribed as a change of counter-signatory form for the purposes of these Rules; |
| “client account” has the same meaning as in the Legal Profession (Solicitors’ Accounts) Rules (Cap. 161, R 8); |
“conveyancing account” means a bank account with an appointed bank —| (a) | maintained by a solicitor for the purpose of depositing conveyancing money; and | | (b) | in the title of which the word “Conveyancing” or the abbreviation “CVY” appears after the name of the solicitor; |
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“conveyancing (CPF) account” means a bank account with an appointed bank —| (a) | maintained, by a solicitor appointed to act for the Central Provident Fund Board in a conveyancing transaction, for the purpose of depositing any money withdrawn from the Central Provident Fund for or in connection with the conveyancing transaction; and | | (b) | in the title of which the words “Conveyancing (CPF)” appear or the abbreviation “CVY-CPF” appears after the name of the solicitor; |
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“conveyancing money” means all or any of the following types of money, and includes any such money which is held by a solicitor after the completion of the sale and purchase of any land, assignment of any land, or grant of a lease, licence or tenancy in respect of land, or after the surrender of a lease, licence or tenancy in respect of land:| (a) | any money payable, in the sale and purchase of any land, to account of the purchase price; | | (b) | any interest payable for the late completion of the sale and purchase of any land; | | (c) | any other money payable, in the sale and purchase of any land, pursuant to the sale and purchase agreement; | | (d) | any money payable, in the assignment of any land, to account of any consideration for the assignment; | | (e) | any interest payable for the late completion of the assignment of any land; | | (f) | any other money payable, in the assignment of any land, pursuant to any agreement relating to the assignment; | | (g) | any money payable, in the grant of a lease, licence or tenancy in respect of land, to account of any consideration for the lease, licence or tenancy; | | (h) | any interest payable for the late completion of the grant of a lease, licence or tenancy in respect of land; | | (i) | any other money payable, in the grant of a lease, licence or tenancy in respect of land, pursuant to any agreement relating to the lease, licence or tenancy, not being money payable only for repairs or improvements to the land; | | (j) | any rent, licence fee or deposit payable pursuant to the grant of a lease, licence or tenancy in respect of land; | | (k) | any money payable, in the surrender of a lease, licence or tenancy in respect of land, to account of any consideration for the surrender of the lease, licence or tenancy; | | (l) | any other money payable, in the surrender of a lease, licence or tenancy in respect of land, pursuant to any agreement relating to the surrender of the lease, licence or tenancy; | | (m) | any goods and services tax under the Goods and Services Tax Act payable in respect of a conveyancing transaction; | | (n) | any stamp duty chargeable under section 4(1) of the Stamp Duties Act on —| (i) | any instrument mentioned in Article 3(a), (b), (ba) or (bb) or 6 of the First Schedule to that Act; or | | (ii) | any instrument involving land mentioned in Article 3(e), (g)(i) or (h), 7 or 11(a) of the First Schedule to that Act; |
| | (o) | any stamp duty amounting to or exceeding $5,000 and chargeable under section 4(1) of the Stamp Duties Act on any instrument mentioned in Article 1, 8(a), (b) or (c) or 12 of the First Schedule to that Act; | | (p) | any money disbursed by a mortgagee, for or in connection with a conveyancing transaction, under a loan secured by the grant to the mortgagee of a mortgage of or charge on the land concerned; | | (q) | any money payable to a mortgagee, for or in connection with a conveyancing transaction, to redeem any mortgage of or to discharge any charge on the land concerned; | | (r) | any money withdrawn from the Central Provident Fund for or in connection with a conveyancing transaction; |
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“conveyancing transaction” means the conveyance, transfer or grant of any estate, interest or right in respect of land, and includes —| (a) | the sale, purchase or assignment of any land; | | (b) | the grant or surrender of a lease, licence or tenancy in respect of land; or | | (c) | the grant of a mortgage of or charge on land, or the redemption or discharge thereof; |
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| “Council” has the same meaning as in section 2(1) of the Legal Profession Act (Cap. 161); |
| “escrow account” means an account with a bank, or with a finance company registered under the Finance Companies Act (Cap. 108), maintained jointly by 2 or more solicitors, each of whom acts for a party to a conveyancing transaction, for the purpose of depositing conveyancing money for or in connection with the transaction; |
| “escrow agreement” means an agreement between the parties to a conveyancing transaction containing the terms and conditions relating to the operation of, the deposit of conveyancing money into, and the withdrawal of conveyancing money from, an escrow account; |
| “Housing and Development Board” means the Housing and Development Board established under the Housing and Development Act (Cap. 129); |
| “HDB property” means any flat, house or other building, or any part thereof, which has been acquired by the present owner thereof from the Housing and Development Board, whether directly or otherwise; |
“land” —| (a) | means —| (i) | the surface of any defined parcel of the earth, all substances thereunder and so much of the column of airspace above the surface whether or not held apart from the surface as is reasonably necessary for the proprietor’s use and enjoyment, and includes any estate or interest therein and all vegetation growing thereon and structures affixed thereto; or | | (ii) | any parcel of airspace or any subterranean space whether or not held apart from the surface of the earth and described with certainty by reference to a plan approved by the Chief Surveyor and filed with the Authority, and includes any estate or interest therein and all vegetation growing thereon and structures affixed thereto, |
| and where the context so permits, includes natural rights to air, light, water and support and the right of access to any highway on which the land abuts; but |
| | (b) | does not include any land in any jurisdiction other than Singapore; |
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| “Legal Service Officer” means an officer in the Singapore Legal Service; |
| “locum solicitor” has the same meaning as in section 2(1) of the Legal Profession Act; |
| “mortgagee” includes a person granted a charge on land; |
| “mortgagor” includes a person who grants a charge on land; |
| “pay-in form” means a form prescribed as a pay-in form for the purposes of these Rules; |
| “pay-out form” means a form prescribed as a pay-out form for the purposes of these Rules; |
| “practising certificate” has the same meaning as in section 2(1) of the Legal Profession Act; |
| “purchaser” means a purchaser of any land who is referred to in an agreement for the sale and purchase of that land, and includes his executor or administrator and any assignee or other successor in title of his interest in that land; |
| “sign” means the application to a medium (electronic or otherwise) of a method (electronic or otherwise) used to identify a person and to indicate the intention of that person in respect of any information contained in that medium, and “signature” and “countersign” and their grammatical variations shall be construed accordingly; |
| “Singapore law practice” and “Society” have the same meanings as in section 2(1) of the Legal Profession Act; |
| “solicitor” means an advocate and solicitor of the Supreme Court, and includes a Singapore law practice; |
| “variation pay-in form” means a form prescribed as a variation pay-in form for the purposes of these Rules; |
| “variation pay-out form” means a form prescribed as a variation pay-out form for the purposes of these Rules; |
| “vendor” means a vendor of any land who is referred to in an agreement for the sale and purchase of that land, and includes his executor or administrator and any assignee or other successor in title of his interest in that land. |
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| (3) For the purposes of these Rules, a person does not receive or hold any conveyancing money by reason only that he receives or holds any cheque, cashier’s order or bank draft issued in favour of the intended recipient of the conveyancing money. |
| (4) For the purposes of these Rules, the First Schedule shall apply, with the necessary modifications, to the assignment of any land, and the grant or surrender of a lease, licence or tenancy in respect of land, as it applies to the sale and purchase of any land. |
| (5) Subject to paragraphs (6) and (7), the forms prescribed for the purposes of these Rules are those set out at the Internet website of the Ministry of Law at http://www.minlaw.gov.sg, and any reference in these Rules to a form shall be construed as a reference to the current version of that form which is displayed at that website. |
| (6) Subject to paragraph (7), the forms prescribed for the purposes of Part IV are those set out at the Academy’s Internet website at http://www.sal.org.sg, and any reference in Part IV to a form shall be construed as a reference to the current version of that form which is displayed at that website. |
| (7) The electronic versions of the forms prescribed for the purposes of these Rules are those set out at the Authority’s Internet website at http://www.sla.gov.sg, and any reference in these Rules to a form shall, in the case of an electronic version of that form, be construed as a reference to the current version of that form which is displayed at that website. |
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| 3. For the purposes of section 73D(3) of the Act, the Minister appoints the entities set out in the Second Schedule as entities with which conveyancing money may be deposited for the purposes of these Rules. |
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