Housing and Development (Conveyancing Fees) (Amendment) Rules 2006

Status:

Published in Subsidiary Legislation Supplement
on 26 Sep 2006

No. S 564

Housing and Development Act

(Chapter 129)

Housing and Development (Conveyancing Fees) (Amendment) Rules 2006

In exercise of the powers conferred by section 65(1)(g) 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 (Conveyancing Fees) (Amendment) Rules 2006 and shall come into operation on 28th September 2006.

Amendment of rule 2

2. Rule 2 of the Housing and Development (Conveyancing Fees) Rules (R 2) is amended ––

(a)

by deleting the words “exclusive of” and substituting the word “excluding”;

(b)

by deleting the words “the Schedule” and substituting the words “the First Schedule”; and

(c)

by renumbering the rule as paragraph (1) of that rule, and by inserting immediately thereafter the following paragraph:

“(2) The fees, excluding all disbursements, payable to the Housing and Development Board by a party for whom the Board acts, or to whom services are rendered by the Board, in any purchase or mortgage of any housing accommodation sold under the provisions of Part IVB of the Act, shall be in accordance with the Second Schedule.”.

Amendment of Schedule and new Second Schedule

3. The Schedule to the Housing and Development (Conveyancing Fees) Rules is amended by deleting the words “THE SCHEDULE” in the heading and substituting the words “FIRST SCHEDULE”, and by inserting immediately thereafter the following Schedule:

“SECOND SCHEDULE

Rule 2(2)

Type of transaction for DBSS flat

Board’s fees where approved developer offers standard payment schedule

Board’s fees where approved developer offers deferred payment schedule

1. Purchase of DBSS flat

$310

$250

2. Mortgage of DBSS flat whether to the Board or to a lender other than the Board

$310

$250

3. Mortgage of DBSS flat to the Board where the Board does not act for the mortgagor

$210

$170.

In this Schedule —

“approved developer” means a developer appointed under section 65N of the Act;

“DBSS flat” means any housing accommodation sold or to be sold by an approved developer under Part IVB of the Act;

“deferred payment schedule” means a payment schedule where all payments to be made by the purchaser to the approved developer subsequent to the initial payment are deferred until after the purchaser receives a Notice of Vacant Possession and either the Temporary Occupation Permit or Certificate of Statutory Completion (or a certified copy thereof) in respect of the DBSS flat;

“initial payment” means the payment to be made by the purchaser to the approved developer —

(a)	upon the signing of the Sale and Purchase Agreement; or
(b)	within 9 weeks from the date of the Option to Purchase,

whichever is the later;

“standard payment schedule” means ––

(a)	the payment schedule set out in Form B in the Schedule to the Housing and Development (Design-Build-and-Sell Scheme –– Form of Contract) Rules 2006 (G.N. No. S 508/2006); or
(b)	any other payment schedule which has been approved by the Board under rule 5 of the Housing and Development (Design-Build-and-Sell Scheme –– Form of Contract) Rules 2006, and which is not a deferred payment schedule.”.

[G.N. No. S 643/2002]

Made this 22nd day of September 2006.

TAN TEE HOW

Permanent Secretary,
Ministry of National Development,
Singapore.

[ND 311/4-105 Vol. 33; AG/LEG/SL/129/2005/4 Vol. 1]

(To be presented to Parliament under section 65(2) of the Housing and Development Act).

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