Residential Property (Areca Investment Pte Ltd — Exemption) Notification 2022

No. S 375

Residential Property Act 1976

Residential Property
(Areca Investment Pte Ltd —
Exemption) Notification 2022

In exercise of the powers conferred by section 32(1) of the Residential Property Act 1976, the Minister for Law makes the following Notification:

Citation and commencement

1. This Notification is the Residential Property (Areca Investment Pte Ltd — Exemption) Notification 2022 and comes into operation on 12 May 2022.

Exemption from need for approval to become converted entity

2. Section 9 of the Act does not apply to Areca Investment Pte Ltd (called in this Notification the relevant company), in relation to any residential property that —

(a)	is not non-restricted residential property;
(b)	is vested in the relevant company immediately before its conversion into a converted entity before, on or after 12 May 2022; and
(c)	is intended for the purpose of development as residential property and with the ultimate purpose of sale or disposal by the relevant company as residential property for profit, after its conversion into a converted entity.

Exemption from need for approval to change existing use

3. Section 28 of the Act does not apply to the relevant company, in relation to land that —

(a)	is acquired, owned or purchased by the relevant company on or after 12 May 2022; and
(b)	is intended for the purposes of change of use to and development as residential property and with the ultimate purpose of sale or disposal by the relevant company as residential property for profit.

Exemption from need for approval for rezoned land

4. Section 28A of the Act does not apply to the relevant company, in relation to vacant land (whether or not with a vacant or disused building or structure on the land) that —

(a)	is owned by the relevant company on or after 12 May 2022; and
(b)	is intended for the purpose of development as residential property and with the ultimate purpose of sale or disposal by the relevant company as residential property for profit.

Exemption from need for housing developer’s approval

5.—(1) Subject to sub-paragraph (2), section 31 of the Act does not apply to the relevant company.

(2) Despite sub-paragraph (1), section 31(1) and (4) of the Act continues to apply to the relevant company in relation to the retention of a dwelling house that is a landed dwelling house.

(3) In this paragraph, “landed dwelling house” means a detached house, a semi‑detached house or a terrace house (including a linked house or a townhouse), whether or not comprised within a strata title plan registered under the Land Titles (Strata) Act 1967.

Conditions of exemption

6. The exemptions in this Notification are subject to the conditions specified in the Schedule.

Made on 11 May 2022.

LOH KHUM YEAN

Permanent Secretary,
Ministry of Law,
Singapore.

[LAW 83/001; AG/LEGIS/SL/274/2020/1 Vol. 5]

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