From 26 August 2002, owners of existing vehicles can bid for new
vehicle registration numbers to replace the registration number of
their vehicles. Successful bidders of vehicle registration numbers
will also be given a longer time up to twelve months to use the
number to register new vehicles or to replace the existing numbers
on their current vehicles.
If more time is needed, they may apply to the Land Transport
Authority (LTA) for extension of six months upon payment of a
non-refundable $1,000 and a service charge of $20. Only two
extensions will be allowed.
The new measures will give bidders more time to use their newly
obtained vehicle registration numbers. It will also provide vehicle
owners with an avenue to replace the vehicle registration numbers
of their existing vehicles with numbers of their choice. A fee of
$300 will be payable for each replacement of the existing vehicle
registration number.
regarding the holding time parts, let's say you buy no. 2 for
$1k, you get to keep it for 12 months until you find your dream
bike to put the no. on. if after 12 months and you still can't get
your dream bike, you gotta pay LTA another $1020 to hold that
number for an extra 6 months, and failing that, another $1020 for
the next 6 months. after the 2nd time and you STILL can't find your
dream bike, LTA will take the number plate back.
no mentioned whatsoever of what happens to you previous plate
though...
they should put in a service to exchange no. plates... so i can go
buy a new kup kia wif the no. 2 chia pai, then exchange it wif my
"all go all die" chia pai, this number so chio, shouldn't let it go
to waste 
