Residual value of certificate of entitlement of motor vehicle which has been seized under written law
21B.—(1)  Where —
(a)a motor vehicle has been seized, on or after 1st January 2005, by any authority under any written law; and
(b)the motor vehicle has been —
(i)scrapped, exported, or taken permanently off the roads in a manner approved by the Registrar upon its release by the authority within such time as the Registrar may, in any particular case, permit; or
(ii)forfeited to the Government or the authority pursuant to an order of court and the Registrar is satisfied that it will be scrapped, exported, or taken permanently off the roads in a manner approved by the Registrar after such forfeiture,
the holder of the certificate of entitlement for the motor vehicle may apply for the residual value of the certificate of entitlement to be used as provided for in rule 20(3) or make an application under rule 25.
(2)  For the purpose of paragraph (1), the residual value of the certificate of entitlement shall be determined in accordance with rule 20(6) except that the period referred to in “C” in the formula shall be read as a reference to the period reckoned in months commencing from the date on which the certificate of entitlement was issued and ending on the date on which the motor vehicle was seized.
(3)  The Registrar may, in his discretion, approve or reject an application made under paragraph (1).
[S 808/2004 wef 01/01/2005]