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Contents

Long Title

Part I PRELIMINARY

Part II LICENSING OF HOUSING DEVELOPERS

Part III DUTIES OF LICENSED HOUSING DEVELOPERS

Part IV POWER TO MAKE RULES AND TO ISSUE DIRECTIONS

Part V GENERAL

Legislative History

 
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Print   Link to In-Force Version
On 27/11/2014, you requested the version in force on 27/11/2014 incorporating all amendments published on or before 27/11/2014. The closest version currently available is that of 18/04/2013.
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Action by Minister if licensed housing developer unable to meet obligations or is conducting business to the detriment of purchasers or the public
18.
—(1)  Where —
(a)
a licensed housing developer informs the Controller —
(i)
that it considers that it is likely to become unable to meet its obligations; or
(ii)
that it is about to suspend building operations;
(b)
a licensed housing developer becomes unable to meet its obligations to the purchasers or the public;
(c)
after investigation is made under section 14, 15 or 16, the Controller is of the opinion that a licensed housing developer —
(i)
is likely to become unable to meet its obligations to the purchasers or the public; or
(ii)
is carrying on its business in a manner detrimental to the interests of the purchasers or to the public; or
(d)
the licence of a housing developer has been revoked under section 7(1),
the Minister may, in his discretion, take such action as he may consider necessary in the circumstances.
(2)  Without prejudice to the generality of subsection (1), the Minister may for the purposes of taking action under subsection (1) —
(a)
require the licensed housing developer or housing developer, as the case may be, to take such steps as he may consider necessary to rectify any matter;
(b)
appoint a person to advise the licensed housing developer or housing developer, as the case may be, in the conduct of its business or winding up of its business;
(c)
direct a company or statutory board to assume control and carry on the business of the licensed housing developer or housing developer, as the case may be, upon such terms and conditions as the Minister may determine; or
(d)
direct the licensed housing developer to apply to the High Court for the winding up of the business of the licensed housing developer or housing developer, as the case may be.
[42/2005 wef 01/04/2006]
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