Thursday, 4 October 2007

Amendment to En Bloc Sale Legislation Take Effect On 4th October 2007

Direct from the Ministry (here):-

  1. The Ministry of Law has announced that the Land Titles (Strata) (Amendment) Act, enacted by Parliament on 20 September 2007, will take effect from 4 October 2007.
  2. The provisions of the new Act will apply to developments where the required 80% or 90% majority consent of owners (based on share value) has not been obtained as at the date of commencement of the Amendment Act, i.e. 4 October 2007. These developments will have to comply with the new requirements set out in the Amendment Act. Developments where the required 80% or 90% majority of owners (based on share value) have signed the Collective Sale Agreement will not need to comply with the new requirements. Developments that are 10 years or more require 80% majority consent while those below 10 years require 90% majority consent.
[Update - Didn't notice that today's International Bloggers' Day for Burma as well so go here and support!]

8 comments:

Anonymous said...

this certainly made my day :-)

Anonymous said...

I saw this in my mailbox when I returned from work. I guess it must have been placed there last night, before the news broke this morning!!! Heh.

http://img520.imageshack.us/img520/1644/enblockl0.jpg

Dr Minority said...

>>I saw this in my mailbox when I returned from work. <<

Why do they all use the metaphor of "missing the boat"? As a commenter said elsewhere, it might be the Titanic you're missing lol.

Nice keyboard... gamer's right?

Tootsie said...

They actually took away the sign in the main lift lobby about the proposed enbloc in our building last week now lets see if the other posters near the carparks will be gone soon.It was the non transparent way they went about the ebloc that set my teeth on edge. The majority are walking about with scowls these days.I think they had about 76% as of today.

Nona said...

Definitely good news!!

Our estate just had its first 8 weekly mandatory notices up the day before yesterday and then the news broke yesterday. The notices have now been mysteriously covered up by minutes of the council meeting. It is "Now you see it, now you don't". I wonder how many residents managed to see the notices which were only up for a day!

Now I am just waiting to see what the SC and the MA, CBRE would do since they didn't achieve their 80%.

On a sidenote, to think that CBRE is actually whining on national newspaper about not being given more lead notice. Tsk, tsk. Hello?! Wake up. The amendments were passed in Parliament on 20 September and it was mentioned the new amendments would take effect in October. How much more lead notice is needed? CBRE assumed the changes is going to be in late October so whose fault is it?? Don't blame the government.

Anonymous said...

Yes, its a microsoft/razer reclusa :)

I'm now waiting to see if they try for round 3. I think people who signed during the 1st 2 attempts must be a bit fed up by now.

Bulldozed Owner said...

Can even lift our eyes nowadays without "Imposters" and "Superficial Business Dealings". Credo - More action than words.

Rebelrouser said...

Ocean Park-

I got news from them that pending to outcome of the Amendment bill , they are waiting to see what will happen.
I wrote to the SC with my long views and want to know how many have signed and agreed to the sale and how many dissenters there are. Of course they have not replied and I don't think they could be bothered.

The minority are still not protected , pro-active members need to be on the ground and championing their cause , which means lots of leg work, knocking at doors and being a nuisance to your neighbours. I live abroad, I can't do that, other than waiting for the time to send in my objection. But the grounds for objection are all monetary and about distribution and procedure. There is no ground for appeal on non-monetary concerns at all , so it is still a lost cause. Are we mere lip-servicers at this rate?