New en-bloc rules w.e.f June 2010 – Property agent in Singapore
- SP are not allowed to re-start the en-bloc process within 2 years if failed on 1st attempt to get the required percentage to vote for en-bloc.
- If SP wish to restart en-bloc within these 2 years, they need to get at least 50% of SV or total number of SP to reappoint the sale committee in an EOGM. Subsequent attempts within the 2 years will need 80% instead. After which it reverts back to 20% of SV or 25% of total number of SP.
- The objective is to discourage numerous attempts for en-bloc when there is lack of interest from SP; to prevent unnecessary spending of management funds on numerous EOGMs.
- Members of sale committees are to declare number of units owned by them as well as owned by their immediate family members and to disclose the date of purchase.
- Sale committee will have obtained the 1st signature on the CSA within 1 year, otherwise the sale committee will automatically be dissolved.
- STB is now empowered to stop the mediation session if the affected SP wants court adjudication instead.
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