Sale of Commercial Properties (Amendment) Rules 1999

Status:

Published in Subsidiary Legislation Supplement
on 14 Dec 1999

No. S 568

Sale of Commercial Properties Act

(Chapter 281)

Sale of Commercial Properties (Amendment) Rules 1999

In exercise of the powers conferred by section 10 of the Sale of Commercial Properties Act, the Minister for National Development hereby makes the following Rules:

Citation and commencement

1. These Rules may be cited as the Sale of Commercial Properties (Amendment) Rules 1999 and shall come into operation on 15th December 1999.

Amendment of Schedule

2. Form D in the Schedule to the Sale of Commercial Properties Rules (R 1, 1999 Ed.) is amended by inserting, immediately after clause 20, the following clause:

“20A. Mediation

20A.1. The Vendor and Purchaser agree that before they refer any dispute or difference relating to this Agreement to arbitration or court proceedings, they shall consider resolving the dispute or difference through mediation at the Singapore Mediation Centre in accordance with its prevailing prescribed forms, rules and procedures.

20A.2. For the avoidance of doubt, this clause shall not amount to a legal obligation on the part of either the Vendor or Purchaser to attempt mediation as a means of resolving their dispute or difference.”.

Transitional provision

3. Notwithstanding anything to the contrary in the Sale of Commercial Properties Rules, where a purchaser of any commercial property under an agreement made before 15th December 1999 assigns, on or after that date, all his right, title or interest under that agreement, the new agreement with the assignee for the sale and purchase of that property shall be in the form prescribed by the Sale of Commercial Properties Rules as amended by these Rules.

Made this 9th day of December 1999.

LAM CHUAN LEONG

Permanent Secretary,
Ministry of National Development,
Singapore.

[ND 202/1-57 V.15; AG/LEG/SL/130/98/1 Vol. 1]

(To be presented to Parliament under section 10(4) of the Sale of Commercial Properties Act).

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