Housing and Development (Interest and Penalties for Late Payment of Improvement Contribution) Rules

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Housing and Development Act

(Chapter 129, Section 65K)

Housing and Development (Interest and Penalties for Late Payment of Improvement Contribution) Rules

R 8

G.N. No. S 194/1995

REVISED EDITION 1996

(1st May 1995)

[1st May 1995]

Citation

1. These Rules may be cited as the Housing and Development (Interest and Penalties for Late Payment of Improvement Contribution) Rules.

Definitions

2. In these Rules, unless the context otherwise requires —

“instalment” means any monthly instalment repayment due to the Board under any instalment plan provided by the Board to a lessee or owner of a flat in relation to the payment of the improvement contribution;

“lessee or owner” means the person who is the owner of the flat at the time the improvement contribution is determined by the Board under section 65D(3) of the Act and includes an equitable owner, a person who has purchased a leasehold interest in the flat and a purchaser under an agreement for a lease.

Calculation of penalties for improvement contribution or instalment in arrears

3.—(1) Where any improvement contribution or any instalment is payable at any interval to the Board and is in arrears —

(a)

in respect of the first month in which there is an arrears of the improvement contribution or an instalment, there shall be imposed a penalty calculated by adding $2 to the amount specified in the second column of the Schedule which is set out opposite to the amount in the first column which corresponds to the amount of improvement contribution or instalment in arrears; and

(b)

for every subsequent month in which there is an arrears of the improvement contribution or an instalment, including the arrears for that month, there shall be imposed on the last day of the month a penalty ascertained by reference to the amount specified in the second column of the Schedule set out opposite to the amount in the first column which corresponds to the outstanding improvement contribution or total accumulated amount of instalment (excluding any penalty) in arrears on that day.

(2) The amount of $2 referred to in paragraph (1)(a) shall be payable only once so long as the improvement contribution or an instalment is or continues to be in arrears.

(3) In paragraph (1)(a), “first month” refers to the first month following a period of at least one month where the improvement contribution or an instalment is not in arrears.

(4) The penalty imposed under paragraph (1)(b) shall be in respect of the improvement contribution or the aggregate of the instalments, as the case may be, which is in arrears on the day referred to in that paragraph.

Interest on late payment

4.—(1) The Board is entitled to impose on the lessee or owner interest on the outstanding improvement contribution or an outstanding instalment at 0.1% point per annum above the rate of interest declared from time to time under section 6(4) of the Central Provident Fund Act [Cap. 36].

(2) Such interest shall be payable from the date the improvement contribution or an instalment is due for payment to the date of actual payment.

(3) The interest under this rule is payable notwithstanding any deferment to pay the improvement contribution or an instalment that the Board may grant a lessee or owner.

Recovery of other moneys

5. Nothing in these Rules shall prejudice any right of action or other remedy of the Board for the recovery of other moneys due to the Board, including any interest for late or deferred payment or liquidated damages or in respect of any antecedent breach by the lessee or owner under any agreement.

Application of payments

6. The Board may, in its discretion, apply any moneys paid by the lessee or owner firstly towards the payment of the amount of any penalty or interest payable under these Rules and subsequently apply any balance thereof towards payment of any amount of outstanding improvement contribution or any instalment.

Remission

7. The Board may, in its discretion, remit wholly or in part any penalty or interest payable under these Rules.