PART 3 | PROVISIONS RELATING TO CORPORATION |
| Provision of working capital |
| 11. For the purpose of enabling the Corporation to carry out its objects and to defray expenditure properly chargeable to capital account, including defraying initial expenses, and for the provision of working capital, the Minister may authorise payment to the Corporation of such sums as the Minister may determine. |
| Functions and powers of Corporation |
12.—(1) The functions of the Corporation are —| (a) | to develop and manage sites, parks, estates, townships and other premises for industries and businesses in Singapore or elsewhere; | | (b) | to provide facilities to enhance the operations of industries and businesses including social amenities for the advancement and the wellbeing of persons living and working in those sites, parks, estates and townships or otherwise; | | (c) | to participate in overseas ventures and developments which the Corporation has the expertise to engage or undertake in; and | | (d) | to collect, compile and analyse information of a statistical nature relating to industrial property in Singapore, and to publish and disseminate the results of any such compilation or analysis or abstracts of those results. [20/2013] |
| (2) In addition to the functions and duties imposed by this section, the Corporation may undertake any other functions and duties that the Minister may, by notification in the Gazette, assign to the Corporation and in so doing, the Corporation is deemed to be fulfilling the purposes of this Act, and the provisions of this Act apply to the Corporation in respect of those functions and duties. [20/2013] |
| (3) Nothing in subsection (1) or (2) is to be construed as imposing on the Corporation, directly or indirectly, any form of duty or liability enforceable by proceedings before any court to which it would not otherwise be subject. [20/2013] |
(4) The Corporation has power to do anything for the purpose of discharging its functions under this Act or which is incidental or conducive to the discharge of those functions and, in particular, may —| (a) | act in combination or association with other persons or organisations for the discharge of any of its functions; | | (b) | promote the carrying on of any activities for the discharge of its functions by other persons or organisations; | | (c) | purchase, acquire or lease any land and premises required for the purpose of the discharge of its functions under this Act; | | (d) | sell or lease land and premises for the purpose of the discharge of its functions under this Act upon terms that the Corporation may determine; | | (e) | provide technical, managerial and other specialist services for industrial, business and other development, and build up a corps of engineering, managerial and other specialist staff to provide such services; | | (f) | prepare and execute proposals, plans and projects for the erection, conversion, improvement and extension of any building for sale, lease, rental or other purpose; | | (g) | provide and maintain housing accommodation including convalescent or holiday houses for employees of the Corporation, provide and maintain for those employees clubs and playing fields and provide educational facilities for them; | | (h) | grant loans to employees or to act as guarantor for loans taken by them, to enable them to purchase their own houses, furniture, fittings, home appliances and vehicles; | | (i) | award scholarships or give loans to employees to obtain professional, technical or other training; | | (j) | sell or lease flats, houses or other living accommodation and land for the housing of persons living and working in industrial and business sites, parks, estates and townships; | | (k) | provide loans on mortgage at such interest as may be prescribed to enable persons, other than employees of the Corporation, to purchase any flat, house or building which is used or intended to be used solely for the purpose of human habitation; | | (l) | with the Minister’s written approval, form or participate in the formation of a company or companies or enter into any joint venture or partnership in Singapore or elsewhere; | | (m) | with the Minister’s written approval, grant loans to any company in which the Corporation or any of its subsidiary companies holds any shares; | | (n) | with the written approval of the Minister and the President, guarantee the repayment of loans given to any company in which the Corporation or any of its subsidiary companies holds any shares; and | | (o) | provide and maintain adequate and efficient port services and facilities in Jurong Port. |
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13.—(1) The Corporation may for the purposes of this Act raise loans —| (a) | from the Government; | | (b) | with the Minister’s approval and subject to the provisions of any written law, by any of the methods set out in section 14; or | | (c) | from any other source directed by the Minister. |
| (2) The Corporation must pay interest on those loans at such rate and at such times, and must make such provisions for the mode and time or times of repayment of principal as may be approved by the Minister. |
(3) The Corporation may borrow by way of temporary loan or overdraft from a bank or otherwise any sum which it may temporarily require —| (a) | for the purpose of defraying expenses pending the receipt of revenues receivable by it in respect of the period of account in which those expenses are chargeable; or | | (b) | for the purpose of defraying, pending the receipt of money due in respect of any loan authorised to be raised under subsection (1), expenses intended to be defrayed by that loan. |
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| (4) Bonds and debentures of the Corporation issued before 1 October 1994 are guaranteed by the Government as to the repayment of principal and the payment of interest at the rate approved by the Minister. |
| (5) Bonds and debentures of the Corporation issued on or after 1 October 1994 are guaranteed by the Government as to the repayment of principal and the payment of interest at the rate approved by the Minister if the President, acting in the President’s discretion, concurs with the giving of such guarantee. |
| (6) For the purposes of subsection (1), the power to raise loans includes the power to make any financial agreement by which credit facilities are granted to the Corporation for the purchase of goods, materials or things. |
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14.—(1) Where the Corporation is authorised to borrow money, the Corporation may, subject to the Minister’s approval or direction, raise money in any manner and, in particular, raise it by —| (a) | mortgage; | | (b) | charge, whether legal or equitable, on any property vested in the Corporation or on any revenue receivable by the Corporation under this Act or any other written law; and | | (c) | debentures, stocks, bonds or other instruments or securities issued by the Corporation. |
| (2) The Corporation may, with the Minister’s approval or direction, fix such rates of interest and such terms, conditions and periods to secure the repayment of the sums borrowed as it thinks fit. |
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14A. As a consequence of —| (a) | the vesting of any property, rights or liabilities of the Government in the Corporation under this Act; or | | (b) | any capital injection or other investment by the Government in the Corporation in accordance with any written law, |
| the Corporation must issue such shares or other securities to the Minister for Finance as that Minister may direct. |
[5/2002] |
15. The Corporation must in every financial year cause to be prepared in a form to be approved by the Minister a budget to be forwarded to the Minister not later than 31 January containing estimates of income and expenditure of the Corporation for the following year —| (a) | on capital account; | | (b) | relating to the management and maintenance of industrial sites, housing and ancillary services; and | | (c) | relating to the execution of its powers, functions and duties. |
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| Approval of budget by Minister |
16.—(1) The Minister may approve or disallow any item or portion of any item shown in the budget, and must return the budget as amended by the Minister to the Chairperson.| (2) The Corporation must present the budget which has been approved by the Minister to the President for the President’s approval under Article 22B of the Constitution. |
| (3) The budget when approved by the President must be published in the Gazette. |
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17.—(1) The Corporation may at any time cause to be prepared a supplemental budget to provide, subject to section 24(2)(d), for unforeseen or urgently required expenditure containing —| (a) | a revised estimate of the income for the current financial year; | | (b) | a revised estimate of the expenditure for the current financial year; and | | (c) | a statement showing how provision is made to meet additional expenditure. |
| (2) A supplemental budget must be dealt with in the manner provided in section 16 for the annual budget. |
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18.—(1) The accounts of the Corporation must be kept by a chief financial officer appointed by and responsible to the Corporation.| (2) The chief financial officer must prepare in respect of each financial year a statement of accounts in a form approved by the Minister. |
| (3) The chief financial officer must keep proper accounts and records of the transactions and affairs of the Corporation and must do all things necessary to ensure that all payments out of its moneys are correctly made and properly authorised and that adequate control is maintained over the assets of, or in the custody of, the Corporation and over the expenditure incurred by the Corporation. |
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| 19. [Repealed by Act 5 of 2018] |
| 20. [Repealed by Act 5 of 2018] |
| Presentation of financial statements |
21.—(1) A copy of the audited financial statements signed by the Chairperson, the chief executive officer and the chief financial officer, and certified by the Corporation’s auditor, together with a copy of any report made by the auditor, must be submitted to the Minister not later than 8 September and to the President not later than 30 September in each year.| (2) The audited financial statements and the auditor’s report must be published in the Gazette. [5/2018] |
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| 22. [Repealed by Act 5 of 2018] |
| Bank account and accounting records |
23.—(1) All moneys paid to the Corporation must forthwith be paid into such banks as may be decided by the Corporation.| (2) The accounting records of the Corporation must distinguish between capital and revenue transactions. |
| (3) Moneys received by way of loans must be shown separately in the books and accounts and in the balance sheet of the Corporation. |
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| Payments to be made in accordance with budget |
24.—(1) A payment must not be made by the Corporation unless the expenditure is covered by an item in a budget and a sufficient balance for the item is available.(2) Despite the absence of such provision, the Corporation may pay —| (a) | sums deposited by contractors or other persons whenever by the conditions of the deposit any of those sums have become repayable; | | (b) | sums collected and credited to the funds of the Corporation in error; | | (c) | sums payable by the Corporation under any award of the Collector of Land Revenue or under any of the provisions of this Act or of any other written law relating to the acquisition of land for a public purpose or under any judgment or order of any court; and | | (d) | any expenditure incurred to secure the proper execution of the functions and duties of the Corporation under this Act which, in the opinion of the Corporation, cannot be postponed. |
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| (3) Provision must be made in a supplemental budget for any payment made under subsection (2)(c) or (d). |
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| Transfer of sums from one item to another |
| 25. Despite any of the provisions of this Act, the Corporation may transfer all or any part of moneys assigned to one item of expenditure to another item under the same head of expenditure in a budget approved by the Minister and the President. |
| 26. The Corporation may invest its moneys in accordance with the standard investment power of statutory bodies as defined in section 33A of the Interpretation Act 1965. [45/2004] |
| 27.—(1) Despite section 32, the Corporation may, with the approval of the Minister, make rules prescribing anything that is to be prescribed and generally for carrying out the provisions of this Act. [34/2017] (2) Without limiting subsection (1), the Corporation may, with the approval of the Minister, make rules for or in respect of all or any of the following matters:| (a) | regulating the use and enjoyment of any common property or open space in any land vested in the Corporation, including —| (i) | restricting or prohibiting behaviour or activities on the common property or open space; | | (ii) | restricting or prohibiting the parking of vehicles on any common property or open space which is not a parking place within the meaning of the Parking Places Act 1974; | | (iii) | waste disposal; | | (iv) | safety or security measures; and | | (v) | power for the Corporation to move, store or dispose of, or authorise the disposal of, objects or things left on the common property or open space and the passing of title to any objects or things on such disposal; |
| | (b) | prescribing that any act or omission in contravention of any rule shall be an offence punishable by a fine not exceeding $5,000; | | (c) | prescribing the penalty (if unpaid, to constitute a debt due to the Corporation and be recoverable as such) to be paid by the Corporation’s lessee or licensee for late payment of any moneys due to the Corporation under any lease, tenancy or licence. [34/2017] |
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| (3) The Corporation or a duly authorised employee of the Corporation who reasonably believes that any person has committed an offence under any rules made under this section may require the person to furnish evidence of the person’s identity, and the person must furnish evidence of the required identity. [34/2017] |
(4) Any person who —| (a) | without reasonable excuse, refuses to furnish any information required of the person by the Corporation or duly authorised employee of the Corporation under subsection (3); or | | (b) | wilfully misstates such information, |
| shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000. |
[34/2017] |
| (5) For the purposes of subsection (4), a person is not excused from disclosing any information required under subsection (3) on the ground that to do so might tend to incriminate the person or expose the person to a penalty. [34/2017] |
| (6) All rules made under this Act must be presented to Parliament as soon as possible after publication in the Gazette. [34/2017] |
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| 28. [Repealed by Act 20 of 2013] |
| 29. [Repealed by Act 20 of 2013] |
| 30. [Repealed by Act 23 of 1995] |
| Special provisions relating to sale of land by Corporation |
31. For the purposes of registering an assurance relating to the sale by the Corporation of any land, the mortgage of the land in favour of the Corporation or the reconveyance or discharge of the mortgage —| (a) | in the case of land registered under the provisions of the Registration of Deeds Act 1988, section 11 of that Act does not apply; and | | (b) | in the case of land registered under the provisions of the Land Titles Act 1993 where a solicitor is not employed by the Corporation, a certificate of an officer authorised in writing in that behalf by the Corporation is sufficient for the purposes of section 59 of that Act. |
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32.—(1) The Minister may, after consultation with the Corporation, make regulations that the Minister may consider necessary or desirable for the proper conduct of the business of the Corporation and, in particular, for any of the following matters:| (a) | the convening of meetings of the Corporation and the procedure to be followed at the meetings, to the extent not inconsistent with the Public Sector (Governance) Act 2018; | | (b) | the provision of a common seal and its custody and use; | | (c) | the manner in which documents, cheques and instruments of any description are to be signed or executed on behalf of the Corporation; | | (d) | the manner and terms of issue and redemption of bonds and debentures by the Corporation; and | | (e) | generally for the exercise of the powers of the Corporation under the provisions of this Act. [5/2018] |
| (2) All regulations made under this Act must be presented to Parliament as soon as possible after publication in the Gazette. |
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| Obstruction of officer of Corporation |
| 33. Any person who obstructs or refuses to give access to any officer of the Corporation or any person duly authorised by the Corporation in that behalf in the performance of anything which the officer or person is by this Act required or empowered to do shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 6 months. [20/2013] |
| Transfer to Corporation of assets and liabilities of Economic Development Board |
| 34. As from 1 June 1968, all the lands, buildings and other property, movable and immovable of the Economic Development Board constituted under the provisions of the Economic Development Board Act 1961, including all the assets, powers, rights, interests and privileges as well as the debts, liabilities and obligations in connection therewith or appertaining thereto that are specified by the Minister by notification in the Gazette are deemed to have been transferred to and vested in the Corporation without further assurance. |
35.—(1) The Corporation has the exclusive right to the use of —| (a) | the symbols which are set out in the Schedule; and | | (b) | any other symbol that it may devise or adopt from time to time and to display or exhibit in connection with its activities or affairs. |
| (2) The Corporation must publish the symbol mentioned in subsection (1)(b) in the Gazette. |
| (3) Any person who uses a symbol identical with, or which so resembles, any of the Corporation’s symbols as to or be likely to deceive or cause confusion, shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000 or to imprisonment for a term not exceeding 6 months or to both. |
| (4) Nothing in this section is to be construed as authorising the Corporation to use any symbol which any person has acquired the exclusive right to use under the Trade Marks Act 1998 or otherwise. [46/98] |
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| Furnishing of information |
| 35A.—(1) The Corporation or any of its employee authorised by the Corporation in that behalf may, for the purpose of obtaining statistical information in relation to industrial property in Singapore, by notice require any person to furnish to the Corporation or the employee so authorised, within the period specified in the notice, all particulars or information relating to all matters that may be required by the Corporation and that is within that person’s knowledge, custody or control. [20/2013] (2) Subject to subsection (6), a notice issued under subsection (1) may be served in the following manner:| (a) | in the case of an individual —| (i) | by delivering it to the individual personally; | | (ii) | by leaving it with an adult person apparently resident at, or by sending it by prepaid registered post to, the usual or last known address of the place of residence of the individual; | | (iii) | by leaving it with an adult person apparently employed at, or by sending it by prepaid registered post to, the usual or last known address of the place of business of the individual; | | (iv) | by affixing a copy of the notice in a conspicuous place at the usual or last known address of the place of residence or place of business of the individual; or | | (v) | by electronic communication, by sending an electronic communication of the notice to the last email address given to the Corporation by the individual as the email address for the service of documents on the individual; |
| | (b) | in the case of a partnership other than a limited liability partnership —| (i) | by delivering it to any one of the partners or the secretary or other similar officer of the partnership; | | (ii) | by leaving it at, or by sending it by prepaid registered post to, the principal or last known place of business of the partnership in Singapore; | | (iii) | by sending it by fax to the fax number operated at the principal or last known place of business of the partnership in Singapore; or | | (iv) | by electronic communication, by sending an electronic communication of the notice to the last email address given to the Corporation by the partnership as the email address for the service of documents on the partnership; and |
| | (c) | in the case of any limited liability partnership or any other body corporate —| (i) | by delivering it to the secretary or other similar officer of the body corporate or, in the case of a limited liability partnership, the manager of the partnership, or to any person having, on behalf of the limited liability partnership or other body corporate, powers of control or management over the business, occupation, work or matter to which the notice relates; | | (ii) | by leaving it at, or by sending it by prepaid registered post to, the registered office or principal place of business of the limited liability partnership or other body corporate in Singapore; | | (iii) | by sending it by fax to the fax number operated at the registered office or principal place of business of the limited liability partnership or other body corporate in Singapore or elsewhere; or | | (iv) | by electronic communication, by sending an electronic communication of the notice to the last email address given to the Corporation by the limited liability partnership or other body corporate as the email address for the service of documents on the limited liability partnership or body corporate. [20/2013] |
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| (3) If the person on whom service is to be effected has an agent within Singapore, the notice may be delivered to the agent. [20/2013] |
(4) Any notice issued under subsection (1) which is to be served on the occupier of any premises —| (a) | may be served by delivering it to an adult person on the premises or, if there is no such person on the premises to whom it can with reasonable diligence be delivered, by affixing the notice to a conspicuous part of the premises; and | | (b) | is deemed to be properly addressed if addressed by the description of the occupier of the premises without further name or description. [20/2013] |
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(5) Where any notice issued under subsection (1) and required to be served on any person is —| (a) | sent by registered post to any person in accordance with subsection (2), it is deemed to be duly served on the person at the time when it would, in the ordinary course of post, be delivered, whether or not it is returned undelivered, and in proving service of the notice, it is sufficient to prove that the envelope containing the same was properly addressed, stamped and posted by registered post; | | (b) | sent by ordinary post to any person in accordance with subsection (2), it is deemed to be duly served on the person to whom it is addressed on the day succeeding the day on which it would, in the ordinary course of post, be delivered; | | (c) | sent by fax to the fax number operated at the last known place of residence or business or registered office or principal place of business in accordance with subsection (2), it is deemed to be duly served on the person to whom it is addressed on the day of fax transmission, subject to receipt on the sending fax machine of a notification (by electronic or other means) of a successful transmission to the place of residence or business or registered office or principal place of business, as the case may be; and | | (d) | sent by electronic communication to an email address in accordance with subsection (2), it is deemed to be duly served on the person to whom it is addressed at the time of entering the information system addressed to the email address. [20/2013] |
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| (6) Service of any notice under this section on a person by electronic communication may be effected only if the person gives as part of the person’s address for service an email address. [20/2013] |
(7) Any person who on being required by notice under this section to furnish any particulars or information —| (a) | wilfully refuses or without lawful excuse (the proof of which lies on the person) neglects to furnish the particulars or information within the time specified in the notice; or | | (b) | wilfully furnishes or causes to be furnished any false particulars or information in respect of any matter specified in the notice requiring particulars or information to be furnished, |
| shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000 or to imprisonment for a term not exceeding 6 months or to both. |
[20/2013] |
(8) Nothing in this section authorises the Corporation, or any of its employee authorised by the Corporation in that behalf, to require the Inland Revenue Authority of Singapore or the Urban Redevelopment Authority to furnish to the Corporation or the employee so authorised —| (a) | any particulars or information in the possession of the Inland Revenue Authority of Singapore obtained in the performance of any of its functions; or | | (b) | any particulars or information in the possession of the Urban Redevelopment Authority obtained in the performance of any of its functions. [20/2013] |
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| Request for information from Inland Revenue Authority of Singapore and Urban Redevelopment Authority |
35B.—(1) For the purpose of obtaining data for statistical purposes relating to industrial property in Singapore, the Corporation may in writing require —| (a) | the Inland Revenue Authority of Singapore to furnish or supply to the Corporation any particulars or information in the possession of the Inland Revenue Authority of Singapore that it obtained in the performance of its function as an agent of the Government in administering, assessing, collecting and enforcing payment of property tax or stamp duties; or | | (b) | the Urban Redevelopment Authority to furnish or supply to the Corporation any particulars or information in the possession of the Urban Redevelopment Authority —| (i) | that the Urban Redevelopment Authority obtained pursuant to any notice under section 44 of the Urban Redevelopment Authority Act 1989; or | | (ii) | that was collected by the Research and Statistics Unit before 1 September 1989 and transferred to the Urban Redevelopment Authority under section 31 of the Urban Redevelopment Authority Act 1989. [20/2013] |
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| (2) Despite the provisions of the Inland Revenue Authority of Singapore Act 1992 and the Urban Redevelopment Authority Act 1989, the Inland Revenue Authority of Singapore and the Urban Redevelopment Authority, respectively, must furnish the particulars and information required under subsection (1) within the time agreed to between the Corporation and the Inland Revenue Authority of Singapore or the Urban Redevelopment Authority, as the case may be. [20/2013] |
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35C.—(1) A member, officer or employee of the Corporation must not disclose any particulars or information which has been obtained by the member, officer or employee of the Corporation in the performance of his or her duties or the exercise of his or her function under section 35A or 35B unless —| (a) | the disclosure is with the previous written consent of the person who furnished the particulars or information under section 35A or the person to whom the particulars or information relates; | | (b) | the disclosure is in the form of statistics which do not identify the person who furnished the particulars or information under section 35A or the person to whom the particulars or information relates; | | (c) | the disclosure is to the Urban Redevelopment Authority pursuant to its request made under section 44A of the Urban Redevelopment Authority Act 1989; | | (d) | the disclosure is to the Chief Statistician pursuant to a direction under section 6 of the Statistics Act 1973 where the particulars or information is not exempted under section 6(2) of that Act from being so furnished; | | (e) | the disclosure is for the purposes of any proceedings for an offence under section 35A(7) or this section or any report of those proceedings; or | | (f) | the particulars or information is already in the public domain at the time of its disclosure. [20/2013] |
| (2) The Corporation may, in respect of any particulars or information disclosed to any person under subsection (1)(a), impose conditions as to the use of the particulars or information by written notice to that person. [20/2013] |
| (3) Any person who discloses any particulars or information in contravention of subsection (1), or who fails to comply with any condition imposed on the person under subsection (2), shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $2,000 or to imprisonment for a term not exceeding one year or to both. [20/2013] |
| (4) To avoid doubt, nothing in subsection (1) authorises the disclosure of any particulars or information mentioned in that subsection to any officer or employee of the Corporation not charged with any duties or function under section 35A or 35B. [20/2013] |
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| Entry on premises to obtain statistical information |
35D. Any officer of the Corporation authorised by the Corporation in that behalf may, with such assistants as are necessary, at any reasonable time, with the consent of the occupier of any land or premises or after 6 hours’ previous notice to such an occupier, and without involving any search or seizure of any premises, person or thing, enter the land or premises for all or any of the following purposes:| (a) | for or in connection with obtaining statistical information in relation to industrial property in Singapore; | | (b) | for the purpose of verifying the accuracy or completeness of any particulars or information furnished by any person pursuant to a notice issued under section 35A(1). [20/2013] |
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