Enblock: 80% agreement by cohesion rather then by coercion
If the law states that those who have signed CSA can back out before 80% is reached... then there will be less bullying (hostility) by preying pro-enblockers trying to en-trap undecided residents into signing- so as to swiftly achieve 80% 'agreement' - (by less then honorable means).
The right to retract agreement will give balance to both pro and anti-enblock residents thus allowing for a more considered decision- especially since lots of $ is involved, reserve prices/ exchange deals etc change with market demand...
Disallowing entrapment will thus force sales committees to achieve 80% agreement by cohesion rather then by coercion.
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ST: En bloc blues: June 16, 2007
Overshadowing all this is his unhappiness about the way in which his parents were badgered into signing up for the collective sale: 'Both my parents are hawkers and don't have much education. The sales committee came down to talk to them when they were working at the busiest time and chased them to sign,' he said. - 'We were not even given the full details until after we signed.'
...
On the ground, the rush to go en bloc has led to more aggression in bringing about a sale, said Mr Phang, 'In
some cases, it has got to the point of harassment,' he said.
...
More than 100 people responded to a public consultation on changes to en bloc legislation held by the
Ministry of Law in April and last month.
A ministry spokesman said: 'The vast majority of the suggestions concerned matters on making the process more
fair and transparent.'
The proposed changes include the addition of a second requirement for getting majority consent.
This means that approval has to come from owners controlling at least 80 per cent of the share values as well
as the number of units in their estates.
Another change requires the collective sale committee to be formed only at an extraordinary general meeting
arranged by the estate's management corporation.
Now, such a committee can be formed ad hoc...
http://www.straitstimes.com/Free/Story/STIStory_129832.html