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Land Leases (Refund of Fees)

Commencement: 27 March 2006

LAND LEASES (REFUND OF FEES)

Order 7 of 2006

1. Definitions
In this Order, unless the contrary intention appears:

“TRF” means the total registration fees paid for the unexpired surrendered lease;

“ULT” means the unexpired term of the unexpired, surrendered lease at the date of registration of the surrender;

“TLT” means the total term of the unexpired surrendered lease.

2. Refund of fees
A lessor must refund an amount of the registration fee calculated under clause 3 to the lessee if:

(a) the lessee’s unexpired lease is surrendered under the Land Leases Act [Cap. 163] and is replaced by a new lease for a term of 75 years; and

(b) the new lease is registered over the same land as the unexpired surrendered lease for the purpose of a strata plan under the Strata Titles Act [Cap. 266].

3. Calculation for refund of fees
The amount of fees to be refunded under clause 2 must be calculated by applying the following formula:

TRF X ULT

1 TLT