Proposals · Part IV · Succession and legacy economics
Family right of first refusal
Before any successor is nominated, the hawker's children have 90 days to take the stall themselves, with no mortgage and no fees.
- SELF-FINANCING · ESCROW-ADMINISTERED, FIRST-LOSS GUARANTEED
It is part of the Succession Mortgage terms and one of three things the plan gives a hawker's children, alongside the Family Name Royalty and the private family archive.
Who pays
SELF-FINANCING
Who gains
- Families
- A 90-day right of first refusal on the stall, at no cost (§1.4).
Where the library discusses it
Note: Chip shown is §4.3's, the section that defines it.
Related proposals
Sources
- Parliament of Singapore. Official Report, 12 Mar 2013, Vol 90, Issue 13, Committee of Supply, Head L (MEWR): Balakrishnan, Fu, Yee Jenn Jong (2013-03-12)
- Chua, N. (Institute of Policy Studies). When hawker brands expand: impact and implications of commodification (IPS News Fellowship paper) (2024-06)