REGENT COURT

After losing at the Appellate Court over financial loss and the having the case returned to the STB for continuance ..........Regent Court had it's case dismissed at the STB again; this time for another reason!

Something about the STB insisting that the developer pay Stamp Duty on the sale before the case would be heard by the Board unless all parties agree to 'impound the S&P'. At least two dissenting minority owners did not agree to impound the S&P and so the case was dismissed. Actually, it was a case of the application being rejected rather than the case being dismissed.

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The STB now insist that the stamp duty on the S&P MUST be paid upfront, before an application is made to the Board. Stamp duty is usually paid within 2 weeks of the sale and purchase agreement being signed, but this rule has not been enforced for en blocs up until now. A late payment incurs a heavy penalty by the IRAS. If the STB does not approve a sale then the stamp duty is returned but not the penalty.

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STB circular on Stamp Duty
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Mohamed Amin bin Mohamed Taib and Others v Lim Choon Thye and Others
[2009] SGHC 216