Housing and Development Act |
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 —
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Calculation of penalties for improvement contribution or instalment in arrears |
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].
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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. |