The Ministry of Law has made two refinements to the criteria for the exemption from the Qualifying Certificate (QC) regime for publicly listed housing developers with a “substantial connection to Singapore”.
From June 29, shares that are held through white-listed nominee companies will now be counted towards fulfilling the shareholding interest criterion.
Singaporean shareholders from the same family which collectively form the largest shareholder and hold at least 30% interest in the total voting rights and issued shares, may also be considered, subject to certain criteria.
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