11.—(1) Subject to paragraphs (2) and (3), where a party to a conveyancing transaction changes his solicitor during the course of the transaction —| (a) | the discharged solicitor shall, without delay —| (i) | withdraw from his conveyancing account, in accordance with rule 7(2), all conveyancing money (if any) standing to the credit of the party, for payment to the conveyancing account of the solicitor taking over the conduct of the transaction; and | | (ii) | withdraw from his conveyancing (CPF) account, in accordance with rule 7(3), all conveyancing money (if any) standing to the credit of the party, for payment to the Central Provident Fund Board; |
| | (b) | the conveyancing money referred to in sub-paragraph (a)(i) (if any) shall be paid into the conveyancing account of the solicitor taking over the conduct of the transaction from the discharged solicitor, to the credit of the party, by bank draft in accordance with rule 6(3); [S 629/2011 wef 25/11/2011] | | (c) | the conveyancing money referred to in sub-paragraph (a)(ii) (if any) shall be paid by the Central Provident Fund Board into the conveyancing (CPF) account of the solicitor taking over the conduct of the transaction from the discharged solicitor, to the credit of the party, in accordance with rule 6(2) and (5); and | | (d) | the solicitor taking over the conduct of the transaction shall give written notice to every other party to the transaction who may be affected by the change of solicitors or by any withdrawal or payment referred to in this paragraph (or if any such party is represented by a solicitor, that party’s solicitor) of the change, withdrawals and payments. |
(2) Where a Singapore law practice is reconstituted as a different Singapore law practice, the second-mentioned Singapore law practice takes over from the first-mentioned Singapore law practice the conduct of any conveyancing transaction, and both Singapore law practices maintain their conveyancing accounts and conveyancing (CPF) accounts with the same appointed bank —| (a) | the first-mentioned Singapore law practice shall —| (i) | without delay, transfer all conveyancing money (if any) standing to the credit of the client for whom it acts in the transaction (referred to in this paragraph as the client) from its conveyancing account and conveyancing (CPF) account to the conveyancing account and conveyancing (CPF) account, respectively, of the second-mentioned Singapore law practice, to the credit of the client, by serving on the appointed bank —| (A) | a written notice of the reconstitution of the first-mentioned Singapore law practice that has been signed by at least one authorised signatory of the first-mentioned Singapore law practice; and | | (B) | such other documents as the appointed bank may require for the purposes of the transfer; and |
| | (ii) | give written notice to the client, and to every other party to the transaction who is affected by transfer of the conveyancing money (or if any such party is represented by a solicitor, that party’s solicitor) of the transfer of the conveyancing money to the second-mentioned Singapore law practice; |
| | (b) | the payment of any part of the conveyancing money to the conveyancing account or conveyancing (CPF) account of the second-mentioned Singapore law practice, to the credit of the client, need not be accompanied by any pay-in form referred to in rule 6(3), (4) or (5) or written instruction referred to in rule 6(5), as the case may be; | | (c) | the appointed bank shall treat every pay-in form or variation pay-in form served on the appointed bank by the first-mentioned Singapore law practice in respect of the transaction as if —| (i) | the form had been served by the second-mentioned Singapore law practice; and | | (ii) | any reference in the form to the first-mentioned Singapore law practice were a reference to the second-mentioned Singapore law practice; |
| | (d) | the appointed bank shall treat every written instruction referred to in rule 6(5) served on the appointed bank by the Central Provident Fund Board in respect of the transaction as if any reference in the written instruction to the first-mentioned Singapore law practice were a reference to the second-mentioned Singapore law practice; and | | (e) | where the first-mentioned Singapore law practice is a counter-signatory specified in any pay-in form, variation pay-in form or written instruction referred to in rule 6(5) in respect of the conveyancing transaction, the reference in the form or written instruction to the first-mentioned Singapore law practice shall be treated as a reference to the second-mentioned Singapore law practice. |
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(3) Where a Singapore law practice is reconstituted as a different Singapore law practice, the second-mentioned Singapore law practice takes over from the first-mentioned Singapore law practice the conduct of any conveyancing transaction, and the 2 Singapore law practices maintain their respective conveyancing accounts and conveyancing (CPF) accounts with different appointed banks —| (a) | the first-mentioned Singapore law practice shall, without delay —| (i) | withdraw from its conveyancing account, in accordance with rule 7(2), all conveyancing money (if any) standing to the credit of the client for whom it acts in the transaction (referred to in this paragraph as the client), for payment to the conveyancing account of the second-mentioned Singapore law practice; and | | (ii) | withdraw from its conveyancing (CPF) account, in accordance with rule 7(2), all conveyancing money (if any) standing to the credit of the client, for payment to the conveyancing (CPF) account of the second-mentioned Singapore law practice; |
| | (b) | the conveyancing money referred to in sub-paragraph (a)(i) (if any) shall be paid into the conveyancing account of the second-mentioned Singapore law practice, to the credit of the client, by bank draft in accordance with rule 6(3); [S 629/2011 wef 25/11/2011] | | (c) | the conveyancing money referred to in sub-paragraph (a)(ii) (if any) shall be paid into the conveyancing (CPF) account of the second-mentioned Singapore law practice, to the credit of the client, by bank draft in accordance with rule 6(5); [S 629/2011 wef 25/11/2011] | | (d) | the second-mentioned Singapore law practice shall give written notice to the client, and to every other party to the transaction who is affected by any withdrawal or payment referred to in this paragraph (or if any such party is represented by a solicitor, that party’s solicitor) of the withdrawals and payments; and | | (e) | where the first-mentioned Singapore law practice is a counter-signatory specified in any pay-in form, variation pay-in form or written instruction referred to in rule 6(5) in respect of the conveyancing transaction, the reference in the form or written instruction to the first-mentioned Singapore law practice shall be treated as a reference to the second-mentioned Singapore law practice. |
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(4) Where, during the course of a conveyancing transaction, a solicitor wishes to transfer any conveyancing money standing to the credit of the client for whom the solicitor acts in the transaction (referred to in this paragraph as the client) in the conveyancing account and conveyancing (CPF) account maintained by the solicitor with an appointed bank to the conveyancing account and conveyancing (CPF) account, respectively, maintained by the solicitor with another appointed bank, the solicitor shall —| (a) | withdraw the conveyancing money from his conveyancing account and conveyancing (CPF) account maintained with the first-mentioned appointed bank, in accordance with rule 7(2), for payment to his conveyancing account and conveyancing (CPF) account, respectively, maintained with the second-mentioned appointed bank; and | | (b) | pay the conveyancing money into his conveyancing account and conveyancing (CPF) account, respectively, maintained with the second-mentioned appointed bank, to the credit of the client, by bank draft in accordance with rule 6(3) and (5), respectively. [S 629/2011 wef 25/11/2011] |
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(5) Where, during the course of a conveyancing transaction, a solicitor wishes to transfer any conveyancing money standing to the credit of the client for whom the solicitor acts in the transaction (referred to in this paragraph as the client) in the conveyancing account or conveyancing (CPF) account maintained by the solicitor with an appointed bank to another conveyancing account or conveyancing (CPF) account, as the case may be, maintained by the solicitor with the same appointed bank —| (a) | the solicitor shall transfer the conveyancing money from the first-mentioned conveyancing account or conveyancing (CPF) account, as the case may be, to the second-mentioned conveyancing account or conveyancing (CPF) account, as the case may be, by serving on the appointed bank —| (i) | a written notice of the transfer that has been signed by at least one authorised signatory of the solicitor; and | | (ii) | such other documents as the appointed bank may require for the purposes of the transfer; |
| | (b) | the payment of the conveyancing money to the second-mentioned conveyancing account or conveyancing (CPF) account, as the case may be, to the credit of the client, need not be accompanied by any pay-in form referred to in rule 6(3), (4) or (5) or written instruction referred to in rule 6(5), as the case may be; | | (c) | the appointed bank shall treat every pay-in form or variation pay-in form served on the appointed bank in respect of the transaction as if any reference in the form to the first-mentioned conveyancing account or conveyancing (CPF) account, as the case may be, were a reference to the second-mentioned conveyancing account or conveyancing (CPF) account, as the case may be; and | | (d) | the appointed bank shall treat every written instruction referred to in rule 6(5) served on the appointed bank by the Central Provident Fund Board in respect of the transaction as if any reference in the written instruction to the first-mentioned conveyancing (CPF) account were a reference to the second-mentioned conveyancing (CPF) account. [S 629/2011 wef 25/11/2011] |
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