Executive Condominium Housing Scheme Regulations 2016

Status:

Current version
as at 26 Nov 2024

No. S 311

Executive Condominium Housing Scheme Act

(CHAPTER 99A)

Executive Condominium Housing Scheme
Regulations 2016

In exercise of the powers conferred by section 3(2) of the Executive Condominium Housing Scheme Act, the Minister for National Development makes the following Regulations:

Citation and commencement

1. These Regulations are the Executive Condominium Housing Scheme Regulations 2016 and come into operation on 1 August 2016.

Option to purchase

2.—(1) An option to purchase a housing accommodation under the executive condominium housing scheme given by a developer to an intending purchaser (called in these Regulations an option) must be in Form 1 set out in the Schedule.

(2) An option is not assignable or transferable.

(3) An option may not be amended without the prior written approval of the Minister or a person authorised by the Minister for this purpose.

(4) An amendment to an option made in contravention of paragraph (3) is null and void.

(5) If an option (A) is granted to a person, the developer must not grant an option to any other person in respect of the same housing accommodation until after A has lapsed.

(6) An option remains in force for 3 weeks after the date on which the title deeds or copies of the title deeds, and the draft agreement for the sale and purchase of the housing accommodation, are delivered to the option holder’s solicitors.

Agreement for sale and purchase

3.—(1) An agreement for the sale and purchase of a housing accommodation under the executive condominium scheme given by a developer to a purchaser (called in these Regulations a Sale and Purchase Agreement) must be in Form 2 set out in the Schedule.

(2) A Sale and Purchase Agreement may not be amended without the prior written approval of the Minister or a person authorised by the Minister for this purpose.

(3) An amendment to a Sale and Purchase Agreement made in contravention of paragraph (2) is null and void.

(4) The Singapore Academy of Law established under the Singapore Academy of Law Act (Cap. 294A) is to act as stakeholder under a Sale and Purchase Agreement.

Revocation

4. The Executive Condominium Housing Scheme Regulations (Rg 1) are revoked.

Savings and transitional provisions

5.—(1) An option granted by a developer to a person for the purchase of any housing accommodation in any executive condominium scheme before 1 August 2016 under the revoked Executive Condominium Housing Scheme Regulations (called in this regulation the revoked Regulations) continues to be in force as if these Regulations had not been made.

(2) If an option mentioned in paragraph (1) is exercised on or after 1 August 2016 and before the option lapses, the sale and purchase agreement between the developer and the intending purchaser is to be in Form B set out in the Schedule to the revoked Regulations (instead of Form 2 set out in the Schedule) and regulation 3(2) and (3) of the revoked Regulations continue to apply in relation to the agreement.

(3) Where —

(a)

a person (the original purchaser) enters into an agreement with a developer to purchase any housing accommodation in an executive condominium scheme —

(i)	before 1 August 2016; or
(ii)	in accordance with paragraph (2); and

(b)

the original purchaser on or after 1 August 2016 assigns to another person all of his or her rights, title or interest under that agreement,

the new agreement to be entered into between the developer and the assignee for the sale and purchase of that housing accommodation is, subject to paragraph (4), to be in Form 2 set out in the Schedule.

(4) The amount and time for payment (called in this regulation the Payment Schedule) of each instalment of the purchase price payable which is to be set out in the agreement between the developer and —

(a)	the assignee mentioned in paragraph (3); or
(b)	any subsequent assignee,

is to be in accordance with the terms of the Payment Schedule in the original agreement for the sale and purchase of the housing accommodation between the developer and the original purchaser.

(5) The agreement under paragraph (3) may not be amended, and the Payment Schedule under paragraph (4) may not be altered, without the approval in writing of the Minister or a person authorised by the Minister for this purpose.

(6) An amendment or alteration made in contravention of paragraph (5) is void.

Made on 23 June 2016.

OW FOONG PHENG

Permanent Secretary,
Ministry of National Development,
Singapore.

[ND311/4-228 Vol. 30; AG/LEGIS/SL/99A/2015/2 Vol. 2]

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