SINGAPOREANS will vote for a president for the first time on August 28, if there is a contest for the post - which becomes vacant on September 1.
The polling date was announced by Prime Minister Goh Chok Tong, who also issued a writ setting August 18 as Nomination Day. Polling day will be declared a public holiday and voting will be compulsory.
Each candidate must pay a deposit of S$18,000 (HK$86,130) and apply for a Certificate of Eligibility from the Presidential Elections Committee. The committee must be satisfied of a candidate's integrity, good character, reputation, ability and experiencein managing the financial affairs of a large institution.
However, the final requirement is not necessary for anyone with at least three years' experience as a government minister, senior public servant or chief executive officer of a company with at least S$100 million in paid-up capital.
This exemption would apply to Ong Teng Cheong, 57, the Deputy Prime Minister, whose nomination was announced on Monday, but not to Chia Shi Teck, 45, a Nominated Member of Parliament and businessman.
Mr Chia, group managing director of Heshe Holdings, has said he will offer himself as a candidate if no one else is nominated. Although his company's paid-up capital is below the S$100 million threshold, Mr Chia is expected to receive the committee's approval.