Land Titles (Strata) (Notice of Rescission) Regulations

Land Titles (Strata) Act

(Chapter 158, Section 130)

Land Titles (Strata) (Notice of Rescission) Regulations

Rg 2

G.N. No. S 570/2007

REVISED EDITION 2010

(31st March 2010)

[26th October 2007]

Citation

1.  These Regulations may be cited as the Land Titles (Strata) (Notice of Rescission) Regulations.

Notice of rescission

2.  The notice of rescission referred to in paragraph 5 of the First Schedule to the Act shall be in the Form in the Schedule.

THE SCHEDULE

Regulation 2

Land Titles (Strata) Act (Chapter 158)

Notice of Rescission

To: _______________________________________________________________________

        [Name of advocate and solicitor appointed by the collective sale committee]

Address for service of notice : __________________________________________________

Address of development in collective sale agreement : ______________________________

Lot/Mukim No.: _____________________________________________________________

                                              [To be filled in by advocate and solicitor
                                             appointed by the collective sale committee]

Block/Unit No.: _____________________________________________________________

Date of First signature on collective sale agreement: ________________________________

     This is to certify that I/we hereby rescind my/our agreement to be a party to the said collective sale agreement which I/we had signed on ___________. The rescission will take effect on the date of service of the notice on you. Please return all moneys that have been paid by or on behalf of myself/ourselves under the collective sale agreement within 2 weeks from the date of service of this notice.

     Date of service of this notice: ____________________ (within 5 days after the date that the collective sale agreement was signed, excluding s Saturday, Sunday or public holiday).

Subsidiary proprietor/Proprietor 1	Subsidiary proprietor/Proprietor 2
Signature: ___________________________	Signature: ____________________________
Name: ______________________________	Name: _______________________________
Signature and name of witness: ______________________	Signature and name of witness: _______________________

Subsidiary proprietor/Proprietor 3	Subsidiary proprietor/Proprietor 4
Signature: ___________________________	Signature: ____________________________
Name: ______________________________	Name: _______________________________
Signature and name of witness: ______________________	Signature and name of witness: _______________________

Acknowledgement of receipt by advocate and solicitor appointed by the collective sale committee or his representative:

Received on _____________________ at __________ by ____________________________

                                 [date]                         [time]

Instructions

     1.  If you have signed a collective sale agreement (“CSA”), you have a right to retract (or rescind) your agreement to be a party to the CSA by serving the notice of rescission (“the notice”) on the advocate and solicitor appointed by the sale collective committee of the development (“the lawyer”). You may rescind your agreement only once for the same CSA.

     2.  The Notice shall be signed before a witness who is not a co-owner. If there is more than one owner, the same person may witness the signatures of all the co-owners.

     3.  To rescind your agreement to be a party to the CSA, you must serve the notice on the lawyer within 5 days after the day you signed the CSA. The 5-day period excludes any Saturday, Sunday or public holiday. For example, if you signed the CSA on Monday, you must serve the notice no later than the following Monday before 5 p.m. If Friday is a public holiday, then the notice must be served no later than the following Tuesday before 5 p.m.

Example 1	Cooling-off period
Mon	Tue	Wed	Thu	Fri	Sat	Sun	Mon
Day CSA signed	Day 1	Day 2	Day 3	Day 4	‑	‑	Day 5 (notice of rescission must be served before 5 p.m.)

Example 2	Cooling-off period
Mon	Tue	Wed	Thu	Fri	Sat	Sun	Mon (PH)*	Tue
Day CSA signed	Day 1	Day 2	Day 3	Day 4	‑	‑	‑	Day 5 (notice of rescission must be served before 5 p.m.)

Example 3	Cooling-off period
Mon	Tue	Wed (PH)*	Thu	Fri	Sat	Sun	Mon	Tue (PH)*	Wed
Day CSA signed	Day 1	‑	Day 2	Day 3	‑	‑	Day 4	‑	Day 5 (notice of rescission must be served before 5 p.m.)

     4.  The notice must be served on the lawyer personally by you or your authorised representative at the law firm’s address given by the lawyer

________________

*Public Holiday

[G.N. No. S 570/2007]

LEGISLATIVE HISTORY

Land Titles (Strata) (Notice of Rescission) Regulations

 

This Legislative History is provided for the convenience of users of the Land Titles (Strata) (Notice of Rescission) Regulations. It is not part of these Regulations.
1.	G. N. No. S 570/2007—Land Titles (Strata) (Notice of Rescission) Regulations 2007
	Date of commencement	:	26 October 2007
2.	2010 Revised Edition—Land Titles (Strata) (Notice of Rescission) Regulations
	Date of operation	:	31 March 2010