PRINCESS ELIZABETH FUND (REPEAL) BILL

Order for Second Reading read. 3.47 pm

The Minister for National Development (Mr Lim Hng Kiang): Mr Speaker, Sir, I beg to move, "That the Bill be now read a Second time."

This Bill seeks to repeal the Princess Elizabeth Fund Act. The Act was originally passed in 1949 to erect workmen's dwellings with monies left over from the Princess Elizabeth Wedding Central Celebrations Fund.

The Act was enacted to empower the HDB to let out and manage the Princess Elizabeth Estate comprising 252 residential units and 18 commercial units. The situation has changed completely since 1949. By the early 1980s, close to 75% of Singaporeans live in HDB flats. About two-thirds of them are staying in home ownership flats. The units at Princess Elizabeth Estate were outdated and no longer popular as rental units. In 1986, approval was given to HDB to include this estate in HDB's decanting and redevelopment plan. The estate has since been cleared and the vacant land returned to the State on 20th July 1995.

With the demolition of the buildings and the land returned to the State, the Act is now obsolete. The Attorney-General has confirmed that it would be in order to repeal the Act.

Sir, I beg to move.

Question put, and agreed to.

Bill accordingly read a Second time and committed to a Committee of the whole House.

The House immediately resolved itself into a Committee on the Bill. [Mr Lim Hng Kiang].

Bill considered in Committee; reported without amendment; read a Third time and passed.