Debated in Parliament on 20 Apr 2023.
Personal Explanation. Mr Don Wee.
Speaker, Sir, on 18 April, in my speech for the debate on the Motion of thanks to the President for her address, I said that car dealers can bid for Certificates of Entitlement (COEs), keep them up to six months, trade and sell to other car dealers. I also said that if only individual buyers or companies who need COEs are allowed to bid for them, this may bring down the COE prices of vehicles in Category C. [Please refer to "Debate on President's Address", Official Report, 18 April 2023, Vol 95, Issue 98, President's Address section.]
I wish to clarify that both sentences were misstatements as COE bids in Categories A, B and D cannot be transferred. COEs in Categories C and E only be transferred once if the bids for them were made by individuals. If the bids are made under companies, businesses or organisations, the COEs cannot be transferred.
Thank you for allowing me to clarify.
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