4.—(1) A person is exempted from section 50(1)(a) of the Act, in relation to his or her purchase of a new property, if all of the following conditions are satisfied:| (a) | the other flat, house, building or land mentioned in section 50(1)(a) of the Act that the person, his or her spouse or any authorised occupier owns or has an estate or interest in is an HDB property; | | (b) | the owner of the HDB property mentioned in sub‑paragraph (a) has obtained preliminary permission from the Board to sell the HDB property; | | (c) | the owner of that HDB property undertakes to sell or divest himself or herself of any interest in that HDB property within 6 months after the date of taking possession of the new property; | | (d) | the owner of that HDB property sells or divests himself or herself of the interest in that HDB property within 6 months after the date of taking possession of the new property. |
| (2) A person is exempted from section 50(1)(b) of the Act, in relation to his or her purchase of a new property, if the flat, house, building or land that the person, his or her spouse or any authorised occupier sold or divested himself or herself of any interest in within the time mentioned in that provision, was an HDB property that the Board had granted consent to be sold or divested. |
(3) In this paragraph, “HDB property” means —| (a) | a flat, house or other living accommodation originally sold subject to Part 4 of the Act; or | | (b) | a housing accommodation originally sold by an approved developer under Part 4B of the Act, |
| whether the flat, house, living accommodation or housing accommodation is directly sold by the Board or approved developer, or is sold in the open market. |
|
|