§ 66 — Adjustment relief assessor’s determinations

66.—(1) For a notice of objection lodged under section 46, the adjustment relief assessor —(a)

must determine whether there is any valid ground of objection; and

(b)

if there is no valid ground of objection, must —(i)

determine the date of termination of the contract in accordance with section 49; and

(ii)

determine the adjustment of the rights and obligations of the parties and their assignees in accordance with Part 4 of the Second Schedule or, where it is just and fair to do so, in any way different from the manner set out in Part 4 of the Second Schedule.

(2) In making a determination under subsection (1)(a), the adjustment relief assessor may take into account a ground not stated in the notice of objection.

(3) In making a determination under subsection (1)(b)(i), the adjustment relief assessor may take into account any date proposed by any party as the date of termination.

(4) The determinations under subsection (1)(a) and (b)(i) and (ii) need not be made together on the same day.

(5) Nothing in subsection (1) prevents an adjustment relief assessor from making the determinations in subsection (1)(b) without first determining whether the contract in question is governed by Singapore law.

(6) For a notice for adjustment lodged under section 47, the adjustment relief assessor —(a)

must determine whether there is any valid ground of objection; and

(b)

if there is no valid ground of objection, must determine the adjustment of the rights and obligations of the parties and their assignees in accordance with Part 4 of the Second Schedule or, where it is just and fair to do so, in any way different from the manner set out in Part 4 of the Second Schedule.

(7) For a notice for compensation lodged under section 51, the adjustment relief assessor must —(a)

determine whether —(i)

the specified contract is one that is described in Part 1 of the Third Schedule; and

(ii)

B satisfies the requirements in Part 2 of the Third Schedule; and

(b)

if the requirements in paragraph (a) are satisfied, further determine the amount of compensation payable by A to B.

(8) For a notice of objection lodged under section 54, the adjustment relief assessor must —(a)

determine whether there is any valid ground of objection; and

(b)

where the adjustment relief assessor determines that the only valid objection is that A’s proposed revised repayment schedule does not satisfy any requirement in paragraphs (a) to (d) of section 53(4), determine what the revised repayment schedule should be.

(9) In making a determination under subsection (8)(a), the adjustment relief assessor may take into account a ground not stated in the notice of objection.

(10) For a notice for repricing lodged under section 61, an adjustment relief assessor must determine —(a)

whether D satisfies the requirements in Part 3 of the Second Schedule; and

(b)

whether the contract should be repriced and, if so, the price to be applied to the contract.

(11) Where section 65(2) applies, the adjustment relief assessor must determine the adjustment of the rights and obligations of the parties and their assignees in accordance with Part 4 of the Second Schedule or, where it is just and fair to do so, in any way different from the manner set out in Part 4 of the Second Schedule.[Act 37 of 2020 wef 14/01/2021]

—(1) For a notice of objection lodged under section 46, the adjustment relief assessor —(a)

must determine whether there is any valid ground of objection; and

(b)

if there is no valid ground of objection, must —(i)

determine the date of termination of the contract in accordance with section 49; and

(ii)

determine the adjustment of the rights and obligations of the parties and their assignees in accordance with Part 4 of the Second Schedule or, where it is just and fair to do so, in any way different from the manner set out in Part 4 of the Second Schedule.

(2) In making a determination under subsection (1)(a), the adjustment relief assessor may take into account a ground not stated in the notice of objection.

(3) In making a determination under subsection (1)(b)(i), the adjustment relief assessor may take into account any date proposed by any party as the date of termination.

(4) The determinations under subsection (1)(a) and (b)(i) and (ii) need not be made together on the same day.

(5) Nothing in subsection (1) prevents an adjustment relief assessor from making the determinations in subsection (1)(b) without first determining whether the contract in question is governed by Singapore law.

(6) For a notice for adjustment lodged under section 47, the adjustment relief assessor —(a)

must determine whether there is any valid ground of objection; and

(b)

if there is no valid ground of objection, must determine the adjustment of the rights and obligations of the parties and their assignees in accordance with Part 4 of the Second Schedule or, where it is just and fair to do so, in any way different from the manner set out in Part 4 of the Second Schedule.

(7) For a notice for compensation lodged under section 51, the adjustment relief assessor must —(a)

determine whether —(i)

the specified contract is one that is described in Part 1 of the Third Schedule; and

(ii)

B satisfies the requirements in Part 2 of the Third Schedule; and

(b)

if the requirements in paragraph (a) are satisfied, further determine the amount of compensation payable by A to B.

(8) For a notice of objection lodged under section 54, the adjustment relief assessor must —(a)

determine whether there is any valid ground of objection; and

(b)

where the adjustment relief assessor determines that the only valid objection is that A’s proposed revised repayment schedule does not satisfy any requirement in paragraphs (a) to (d) of section 53(4), determine what the revised repayment schedule should be.

(9) In making a determination under subsection (8)(a), the adjustment relief assessor may take into account a ground not stated in the notice of objection.

(10) For a notice for repricing lodged under section 61, an adjustment relief assessor must determine —(a)

whether D satisfies the requirements in Part 3 of the Second Schedule; and

(b)

whether the contract should be repriced and, if so, the price to be applied to the contract.

(11) Where section 65(2) applies, the adjustment relief assessor must determine the adjustment of the rights and obligations of the parties and their assignees in accordance with Part 4 of the Second Schedule or, where it is just and fair to do so, in any way different from the manner set out in Part 4 of the Second Schedule.[Act 37 of 2020 wef 14/01/2021]