s 27DB Order of court for transfer or sale of immovable property with charge under section 15AB(13) or 21C(1)
27DB.—(1) Subsection (2) applies where —(a) the Board permits a member of the Fund to use the immovable property mentioned in section 15AB(12) to secure the whole or part of the retirement sum applicable to the member;[Act 39 of 2021 wef 01/03/2022] (b) any of the following charges has been constituted:(i) a charge constituted under section 15AB(13) on the immovable property to secure the payment to the Board of the whole or part of the retirement sum; (ii) a charge constituted under section 21C(1) on a replacement property to secure the payment to the Board of the whole or part of the retirement sum, where the relevant charge referred to in section 21C(1)(a) is a charge mentioned in sub-paragraph (i) or a charge under section 21C(1) for the payment to the Board of the whole or part of the retirement sum;[Act 33 of 2024 wef 01/04/2026] (c) an order of court is made requiring the transfer (other than by way of sale) of the member’s estate or interest in the immovable property or replacement property (as the case may be) to the member’s spouse; and[Act 33 of 2024 wef 01/04/2026] (d) the spouse is a citizen or permanent resident of Singapore.[37/2019] (2) Subject to subsection (2A) and any regulations made under section 77(1), the following provisions apply in the circumstances set out in subsection (1):(a) if the order of court requires any person to pay to the Board any amount towards covering the deficiency in the member’s retirement sum, that person must pay to the Board that amount; (b) the member must pay to the Board a further amount sufficient to cover the deficiency in the member’s retirement sum, unless the amount paid under paragraph (a) (if any) is sufficient to cover that deficiency; (c) if the immovable property is subsequently sold or otherwise disposed of, the spouse must pay to the Fund an amount determined by the Board in accordance with any regulations made under section 77(1), and the Board must credit that amount to one or more designated accounts maintained, or to be maintained, for the spouse; (d) despite section 15AB(14)(e), upon the transfer of the member’s estate or interest in the immovable property to the spouse, and upon payment in accordance with paragraph (a), if applicable —(i) the charge mentioned in subsection (1)(b) ceases to secure the payment to the Board of the retirement sum applicable to the member; and (ii) the member, the spouse or any other person having an interest in the immovable property is entitled to have any registration or notification of the charge in the appropriate register under the Land Titles Act 1993, the Land Titles (Strata) Act 1967 or the Registration of Deeds Act 1988 (as the case may be) cancelled, insofar as it secures the payment to the Board of the retirement sum applicable to the member;[Act 39 of 2021 wef 01/03/2022] (e) upon the transfer of the member’s estate or interest in the immovable property to the spouse, a charge is constituted on the immovable property to secure the payment referred to in paragraph (c); (f) sections 15AB(14)(b) to (e) and 21(12) apply, with the necessary modifications, to the charge under paragraph (e), and for the purposes of such application —(i) any reference to the charge under section 15AB(13) is to be read as a reference to the charge under paragraph (e); and[Act 39 of 2021 wef 01/03/2022] (ii) any reference to the member is to be read as a reference to the spouse;[Act 39 of 2021 wef 01/03/2022] (g) the charge under paragraph (e) —(i) is subject to all prior statutory rights and charges of any public authority over the immovable property; and (ii) despite anything in the Land Titles Act 1993 or the Registration of Deeds Act 1988 —(A) is not subject to any encumbrance registered or notified on or after the date of the notification of the charge mentioned in subsection (1)(b); and (B) ranks equally with the charge mentioned in subsection (1)(b), had it continued or if it continues to be in force, in the order of priority of interests in the immovable property.[37/2019] [Act 33 of 2024 wef 01/04/2026] (2A) In the case of a charge mentioned in subsection (1)(b)(ii) on a replacement property, subsection (2) applies with the following modifications:(a) any reference to immovable property in subsection (2)(c), (d), (e) and (g) is to be read as a reference to the replacement property; (b) in addition to subsection (2)(f), any reference to immovable property in section 15AB(14)(b) and (c) is to be read as a reference to the replacement property.[Act 33 of 2024 wef 01/04/2026] (3) Subsection (4) applies where —(a) the Board permits a member of the Fund to use the immovable property mentioned in section 15AB(12) to secure the whole or part of the retirement sum applicable to the member;[Act 39 of 2021 wef 01/03/2022] (b) any of the following charges has been constituted:(i) a charge constituted under section 15AB(13) on the immovable property to secure the payment to the Board of the whole or part of the retirement sum; (ii) a charge constituted under section 21C(1) on a replacement property to secure the payment to the Board of the whole or part of the retirement sum, where the relevant charge referred to in section 21C(1)(a) is a charge mentioned in sub-paragraph (i) or a charge under section 21C(1) for the payment to the Board of the whole or part of the retirement sum; and[Act 33 of 2024 wef 01/04/2026] (c) an order of court is made requiring the transfer or sale of the member’s estate or interest in the immovable property or replacement property (as the case may be) to any person.[37/2019] [Act 33 of 2024 wef 01/04/2026] (4) In the circumstances mentioned in subsection (3), unless subsection (2) applies, the charge mentioned in subsection (3)(b) continues in force until —(a) the retirement sum applicable to the member or part of the retirement sum that the charge was constituted to secure under section 15AB(13) or 21C(1) —(i) has been paid to the Board; or (ii) is no longer required by any regulations made under section 77(1) to be paid to the Board; or[Act 39 of 2021 wef 01/03/2022] [Act 33 of 2024 wef 01/04/2026] (b) the Board is satisfied of the occurrence of any event prescribed in any regulations made under section 77(1) for the purposes of this paragraph.[37/2019] (5) Where any of the events mentioned in subsection (4) occurs, unless subsection (2) applies, the following persons are entitled to have any registration or notification of the charge mentioned in subsection (3)(b) in the appropriate register under the Land Titles Act 1993, the Land Titles (Strata) Act 1967 or the Registration of Deeds Act 1988 (as the case may be) cancelled:(a) the member mentioned in subsection (3); (b) the person mentioned in subsection (3)(c); (c) any other person having an interest in the immovable property or replacement property (as the case may be) on which the charge is constituted.[37/2019] [Act 39 of 2021 wef 01/03/2022] [Act 33 of 2024 wef 01/04/2026]