Cancellation of certificates of entitlement
20.—(1)  A certificate of entitlement for any motor vehicle shall automatically be cancelled if —
(a)the registration of the motor vehicle (including a public service vehicle) is cancelled under section 27 (1) (a), (b), (d) or (e) of the Act;
(b)in the case of a public service vehicle, the public service vehicle licence is revoked under section 108 of the Act; or
(c)the certificate of entitlement is surrendered to the Registrar under rule 22(2).
(2)  Subject to rule 28, where a certificate of entitlement is cancelled under paragraph (1) before its expiration, the residual value of the certificate of entitlement shall not be refunded to the holder of the certificate of entitlement but shall, for a period of 6 months from the date of the cancellation, be available to the holder to be set off against —
(a)any quota premium payable by him for another certificate of entitlement issued in respect of another motor vehicle;
(b)any charge payable by him for restoring the certificate of entitlement in respect of another motor vehicle; or
(c)any quota premium payable for a certificate of entitlement obtained for the purposes of rule 22 in respect of the same vehicle,
and any balance of such residual value shall be available to the holder to be set off against —
(i)any tax or fee payable by him in connection with the registration of the motor vehicle referred to in sub-paragraph (a), (b) or (c) or such other charge as the Registrar may allow; or
(ii)any road tax payable in respect of such vehicle registered in the holder’s name as the Registrar may allow.
(3)  The Registrar may, upon application and the payment of a fee of $10 and subject to such conditions as he may impose, allow the residual value mentioned in paragraph (2) and rule 21(1) to be transferred once to such person as the holder may nominate in writing and to be used for the benefit of the person nominated as if he were the holder, provided that no fee need be paid under this paragraph if the person nominated is concurrently nominated under rule 8(3) of the Road Traffic (Motor Vehicles, Registration and Licensing) Rules.
[R 5.]
(4)  Subject to paragraphs (5), (6) and (7) the residual value of a cancelled certificate of entitlement or the purpose of paragraph (2), shall be an amount determined in accordance with the following formula:
UNKNOWN
where
A is the quota premium paid for the certificate of entitlement;
B is the period reckoned in months for which the certificate of entitlement would be in force if was not cancelled; and
C is the period reckoned in months commencing from the date the certificate of entitlement was issued until the date of its cancellation.
(5)  In the case of a certificate of entitlement that has been —
(a)issued whether before, on or after 20th February 1995 under rule 3(1)(g);
(b)used on or after 20th February 1995 for the registration of any motor vehicle referred to in rule 3(1)(a) to (f); and
(c)subsequently cancelled under paragraph (1) before its expiration,
the residual value of the cancelled certificate of entitlement shall be an amount determined in accordance with the following formula:
UNKNOWN
where
A is —
(i)the quota premium paid for the certificate of entitlement issued under rule 3(1)(g); or
(ii)the quota premium which would have been payable for a certificate of entitlement issued for a motor vehicle of the appropriate cylinder capacity during the same quota period as the certificate of entitlement issued under rule 3(1)(g) ,
whichever is the lower; and
B and C have the same meanings as in paragraph (4).
(6)  Where a motor vehicle has been declared non-user under rule 53 of the Road Traffic (Motor Vehicles, Registration and Licensing) Rules, the residual value of a cancelled certificate of entitlement for the purposes of paragraph (2) shall be the sum of the amount, if any, determined in accordance with the formula in paragraph (4) and an amount determined in accordance with the following formula:
UNKNOWN
Where
A and B have the same meanings as in paragraph (4); and
D is the period of non-user or, where there is more than one period of non-user, the sum of all the periods of non-user, reckoned in months and any fraction of a month shall be disregarded in determining the length of each period of non-user.
[R 5.]
(7)  For the purpose of paragraph (2), where a motor vehicle which is first registered on or after 20th February 1995 is de-registered within a period of 2 years from the date of its registration on the ground that it has been permanently removed from Singapore, the residual value of the certificate of entitlement for the motor vehicle shall be —
(a)where the motor vehicle has been registered using a certificate of entitlement issued under rule 3(1)(a), (b), (c), (d), (e) or (f), 80% of the quota premium paid for the certificate of entitlement; or
(b)where the motor vehicle has been registered using a certificate of entitlement issued under rule 3(1)(g) , 80% of —
(i)the quota premium paid for the certificate of entitlement issued under rule 3(1)(g); or
(ii)the quota premium which would have been payable for a certificate of entitlement issued for a motor vehicle of the appropriate cylinder capacity during the same quota period as the certificate of entitlement issued under rule 3(1)(g),
whichever is the lower.