23 Nov 2007 Posted in Announcements
The Ministry of Law held a public consultation from 2 April to 12 May 2007 on the Ministry’s proposed changes to the en bloc sale legislation. We received over 400 suggestions from more than 100 contributors. Following the public consultation, we held discussions with about 40 industry players experienced in handling en bloc sales, including lawyers, property consultants, developers, academics and representatives of the Singapore Institute of Surveyors and Valuers. We also obtained further input from the Strata Titles Boards.
The vast majority of the suggestions were about making the en bloc sale process clearer, fairer and more transparent, with nearly 60% of the suggestions related to the formation and proceedings of the sale committee.
MinLaw carefully considered the feedback and suggestions received. In considering the amendments to the Land Titles (Strata) Act, the main guiding principle was to provide additional safeguards, greater clarity and transparency for all owners involved in en bloc sales, while not making it unduly onerous to bring about en bloc sales. The eventual amendments that were adopted comprised those that MinLaw had proposed for the public consultation, except that the additional consent requirement will be based on the area of lots as shown in the subsidiary strata certificates of title instead of the number of units, and some suggested changes received from the public consultation. The Land Titles (Strata) (Amendment) Act came into force on 4 October 2007.
- The suggestions which MinLaw received in the public consultation can be grouped as follows:
- additional consent requirement and consent levels;
- eligibility to attempt en bloc sale;
- assignment of voting rights;
- formation and proceedings of en bloc sale committee;
- apportionment of sale proceeds / replacement units;
- collective sale agreement;
- launch of en bloc sale;
- applications to, hearings by and decisions made by the STB;
- disbursement of sale proceeds;
- other miscellaneous issues; and
- timing of the implementation of the amendments
To view MinLaw’s full response to feedback received from the public consultation, click here. (0.05MB)
To view the earlier public consultation paper, click here.
Last updated on 16 Jan 2013